Tag: Budget

November 05, 2006 (LBO) – Sri Lanka’s opposition United National Party which has pledged to support the ruling party in the budget vote says, it will criticize harmful features of the budget, because economic policy is not included in a recent co-operation deal signed between the two parties. “We were not consulted on the upcoming […]

October 14, 2006 (LBO) – Sri Lanka’s President Mahinda Rajapakse is due to present the 2007 budget on Nov. 14, which will focus on infrastructure and measures to generate more savings, the finance ministry said Saturday. “The importance of tax payer contributions towards country’s development efforts, suggestions to improve the tax system and taxpayer concerns […]

October 5, 2006 (LBO) – Sri Lanka plans to spend more and borrow further next year as expenses for defence hardware and fuel related subsidies escalate. Total state spending will climb 42 percent to 804.6 billion rupees from 568.3 billion rupees in 2006, the government said Thursday while tabling the 2007 budget appropriation bill before […]

Sri Lanka’s 2006 budget plan announced last week could spur investment in less developed areas of the country, although the government’s pro-poor focus also means higher taxes which could hit corporate profitability, analysts and investors said.Sri Lanka’s 2006 budget plan announced last week could spur investment in less developed areas of the country, although the […]

Defense spending was hiked by a massive Rs. 25 billion from the levels proposed a month ago as top Generals said they are ready for war if pushed in to it.Defense spending was hiked by a massive Rs. 25 billion from the levels proposed a month ago as top Generals said they are ready for […]

How practical is a budget that seeks high defense spending and a big government? How practical is a budget that seeks high defense spending and a big government? International rating agencies, that gave Sri Lanka speculative grade ratings on Friday, also highlighted challenges facing the economy. Deterioration in the security situation, delays in the public […]

Sri Lanka’s corporate sector could take a hit if Thursday’s budget is implemented as proposed.Sri Lanka’s corporate sector could take a hit if Thursday’s budget is implemented as proposed. A number of significant proposals impacting specific companies or sectors in the Colombo Stock Exchange have been put together by C T Smith Stockbrokers. Proposals that […]

Sri Lanka’s corporate sector could take a hit if Thursday’s budget is implemented as proposed.Sri Lanka’s corporate sector could take a hit if Thursday’s budget is implemented as proposed. A number of significant proposals impacting specific companies or sectors in the Colombo Stock Exchange have been put together by C T Smith Stockbrokers. Proposals that […]

Presenting his maiden budget, President Mahinda Rajapaksa said his government would rebuild the agro sector to support the rural economy.Presenting his maiden budget, President Mahinda Rajapaksa said his government would rebuild the agro sector to support the rural economy. Key inputs to develop the rural agro economy will include special loan shchemes, subsidized fertilizer and […]

The President in his maiden budget speech said new power projects needed to be implemented as a priority.The President in his maiden budget speech said new power projects needed to be implemented as a priority. However, to compensate residents for any inconvenience from the power plants, the president has proposed to offer concessionary rates to […]

The local film industry will get a series of concessions, including a rs.50 mn allocation in 2006 to set up infrastructure for acting development.The local film industry will get a series of concessions, including a rs. 50 mn allocation in 2006 to set up infrastructure for acting development. Meanwhile, foreign films will be slapped with […]

Fertiliser subsidy 8.5 bn. Sector to be freed from all taxs.Concessionary capital to vegetable and fruit farmers. Rs. 10 bn revolving fund for plantation sector and special concessions for replanting Rs. 300 mn for seed farm development ESC on plantation factories down to 0.5 percent from 1 percent Fertiliser subsidy 8.5 bn. Sector to be […]