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 […]

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 […]

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 […]

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 […]

Some of the key highlights of the revised budget for 2006: Some of the key highlights of the revised budget for 2006: • The budget deficit for 2006 was estimated at Rs.197 billion, up from Rs. 168 billion this year. • The deficit was equivalent to 7.1 percent of GDP (minus tsunami related costs) both […]

Budget 2006 Click Here to Download – Budget Speech    – Budget Proposals Budget 2006 Click Here to Download – Budget Speech    – Budget Proposals

Sri Lanka Thursday announced higher taxes on corporates, gambling, smoking and liquor to fund a spending spree that includes farm and electricity subsidies and jobs for unemployed. Sri Lanka Thursday announced higher taxes on corporates, gambling, smoking and liquor to fund a spending spree that includes farm and electricity subsidies and jobs for unemployed. President […]

Paddy farmers got a bumper harvest in the Mahinda Chintana budget, with subsidized fertilizer and paddy buying prices upped by one rupee to Rs.17.50. Paddy farmers got a bumper harvest in the Mahinda Chintana budget, with subsidized fertilizer and paddy buying prices upped by one rupee to Rs. 17.50. The Budget proposal said that all […]