2017 Sri Lanka Budget Proposals Speech via Live Blogging

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Sri Lanka's Finance Minister Ravi Karunanayake will present the second reading of the Appropriation Bill for year 2017 (Budget Speech) in parliament Today (November 10) afternoon at 2:00 p.m.

"Lanka University News" ready to bring Live Web Blogging session for the 2016 Budget Speech from 2pm.

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ජාතික අයවැය - 2017

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03:28 PM

Rs 100 million allocation to National Science Foundation for CKD research

03:27 PM

Rs 200 million to upgrade nurses training schools

03:26 PM

Rs 750 million allocation in 2017 to tackle chronic kidney disease

 

03:24 PM

Vocational training centre to encourage courses in lapidary, gemology, etc

Rs 300 million to be allocated for scholarships to students engaged in state run vocational training centres

03:22 PM

Student loan scheme of Rs 800,000 per student for higher education in the private sector

03:21 PM

Private sector higher education institutions with quality education would be encouraged with the necessary laws in place.

5 year multiple entry visas for international students to be provided with the aim of creating an education hub and also provide education tourism

03:17 PM

University seminars to be extended to 8 pm daily

03:15 PM

10 storey building at Ruhunu Medical faculty to double intake to 300 students

Scholarships for deserving studentds to Harvard/MIT universites in the US and NUS-Singapore

03:13 PM

Rs.200,000 insurance cover for all school children

03:12 PM

Savings accounts to be opened for school children as CSR projects by banks

University admissions to be increased to 50,000 (from a current 20,000) annually

03:10 PM

Differently abled children to be given improved facilities

Agrahara insurance scheme to be extended to teachers

03:09 PM

Rs. 250 million to upgrade plantation schools

Tabs and laptops to be provided at a cost of Rs 5,000 million for high school students

03:07 PM

New subjects: Fashion designing, hospitality and logistics to be included in the school curriculum

03:06 PM

Rs 2,100 million for school labs and other facilities

03:05 PM

Additional financial resources of Rs 18,740 million for education

Smart classrooms to be created at a cost of Rs 600 million

03:03 PM

Rs. 21,000 million allocated for infrastructure development for classroom development

03:02 PM

Education - 13 year education period inclusive of high school education is mandatory

03:00 PM

Lahugala, Panama to get drinking water projects thro' foreign aid at Rs 20 million

02:58 PM

50 agro-metereological centres to be set up

02:57 PM

Growing of pepper and other related crops to be encourage on coconut and rubber lands

02:56 PM

Horticulture - 2000 nurseries to given grants

02:55 PM

Whole chicken - current Rs 420 per kg price to continue

02:53 PM

Galle, Hambantota and Jaffna fisheries sectors to be improved

02:52 PM

Local milk production to be increased through state investment of Rs 200 million

15,000 cows to be imported

02:50 PM

100 %  capital allowance on sugar investments
Automated commodity exchange for tea, rubber and coconut

The Appropriation Bill outlining allocations to be made for each ministry for year 2017 was tabled in House for its First Reading on 20 October.

The government has estimated an allocation of Rs. 1.82 trillion (US$ 12.4 billion) for expenditure for next year, which is lower than the 2016 allocation of Rs. 1.95 trillion.

Minister Karunanayake said a development oriented budget with long term action plan to fulfill aspirations of all citizens will be presented to parliament. The theme of the budget this time is "Towards rapid development with benefits to all".

According to the Minister the next year's Budget 2017 has focused on strengthening the national economy of the country.

He said that priority has been given to the people's proposals in preparing Budget 2017 and, the needs and views of the people were taken into consideration in order to make them representatives in Budget 2017.

Among the wide range of groups whose views are included in the budget are farmers, fishermen, laborers, small, medium and big time entrepreneurs, self-employees, industrialists, investors, trade union representatives, civil organizations, political parties, professionals, university teachers, professors and religious leaders.

In addition, the Finance Ministry had received nearly 2500 proposals from the ordinary people living in different parts of the island to be considered for Budget 2017.

The Minister further said that close attention has been drawn to the proposals with a view to solve youth unemployment, new plans to reduce cost of living, plans to promote several sectors including investment, education, health and agriculture.

"The budget proposals this time is expected to take tangible initiative to end poverty in the country. It will also be the stepping stone for a Grand National operation to save the future generation from the prevailing colossal debt trap through its long term development agenda," he said.

Sri Lanka Budget 2016 (Budget Speech) will take place today (November 20) 2pm at the Parliament. 

Minister of Finance Ravi Karunanayake will present the Budget Speech.

"Lanka University News" ready to bring Live Web Blogging session for the 2016 Budget Speech from 2pm.

Stay with Us >>>

ජාතික අයවැය - 2016

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06:14 PM	- PAYE tax limit to be changed to Rs 2.4 million per annum from Rs. 750,000. PAYE will be reduced to 15% from 16 %.
06:12 PM	- Two tax slabs - 15% and 30 % - to be introduced for different sectors while 35 per cent will be levied on casinos and 15% for other sectors
06:11 PM	-  Current total of 35 taxes to be reduced by abolishing several taxes.
06:03 PM	- Kerosene oil reduced by Rs 10
06:03 PM	- Gas prices reduced by Rs 150
06:01 PM	-  Milk powder for children reduced by Rs 100
05:58 PM	-  Minister skips pages once again
05:53 PM	- Minister says some pages not printed and seeks permission to print them (later)
05:51 PM	- New contributory pension scheme for people joining government service from January 2016.
05:50 PM	-  EPF and ETF to be merged after consultation agreement with trade unions
05:43 PM	- Private sector to get involved in Mattala airport operations
05:42 PM	-  Central Procurement Office to be set up
05:41 PM	- Loss-making SriLankan Airlines to be transformed to a profitable regional carrier. The government carried the burden of 72 per cent of the losses to the detriment of the taxpayer.
05:39 PM	- Open skies policy to be created enabling international airlines to fly freely to Sri Lanka. Three new domestic airports to be opened.
05:37 PM	-  Government stakes in state owned companies - Hotel Developers, Lanka Hospitals, Mobitel, etc - to be divested (sold). Receipts to be used to pay off their debts.
05:34 PM	- State enterprises to be made independent units, Will be brought under one government owned company
05:33 PM	- Ports and airports won't privatised but transformed to independent institutions
05:31 PM	- Rs 100 million for Police Academy
05:30 PM	- Police stations to be increased to 600 from 428
05:28 PM	- Minister skips pages saying they would be tabled
05:26 PM	-  Kidney Dialysis centre to be established
05:24 PM	- Import tax on books, journals and magazines removed
05:24 PM	-  New private universities for foreign students to be encouraged with tax concessions. 30 per cent will be reserved for local students
05:20 PM	- Loans for students to buy laptops with Rs 300 million allocated.
05:20 PM	- New Mahapola University to be set up at Malabe at a cost of Rs 3 billion.

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