Budget 2017 will bring change to Sri Lanka: Ravi K

Nov 08, 2016 (LBO) – Sri Lanka’s Budget 2017 will reduce cost of living and strengthen investments, the Finance Minister said.

“Steps have been taken in the forthcoming budget to reduce cost of living while measures have been taken to strengthen investment in the country,” Ravi Karunanayake, Finance minister said following meetings with two former finance ministers Ronnie de Mel and former President Chandrika Kumaratunge.

He also said that views of stakeholders from all walks of life were gathered to prepare the Budget 2017 to be presented to Parliament on 10 November.

After his meeting with Ronnie de Mel, Minister Karunanayake told the media that everything is in place to present a people friendly budget.

He said former finance minister Ronnie de Mel’s views were gathered as they were considered important in making Budget 2017.

According to a media report, Karunanayake has said that capital gains on property, within a 10 year period, could be taxed, but capital gains on share transactions won’t be taxed.

The government also plans to make small and medium sized vehicles more affordable, but make usage more costly.

“I believe a budget for the people will be submitted to parliament on 10 November. The untiring efforts taken by the Finance Minister to prepare such a people friendly budget should be appreciated,” former President Chandrika Bandaranaike Kumaratunga said.

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