Nov 10, 2016

Budget 2017 (Update) Featured

The following proposals were presented to Parliament.

COI

Cost 600px 16 11 10Minister requests the 100 largest companies in the country to partner with the government for certain projects, the interest would be incurred by the government.

Online tranasctions to have a tax.

All importers must be registered with Customs previously, exports you can get a shipment out of the country within 24 hours.

Suggestion to remove 100 items from CESS with immediate effect.

Tax incentive to export old vehicles.

We also propose to reduce the price of Dhal by Rs. 10, potato Rs. 5, sprats Rs. 5, and kerosene by Rs. 5 and gas by Rs. 25.

Reduce expressway prices by Rs. 50 from 9 pm to 5 am.

Rs. 500 million for Laksathosa, Rs. 10,000 for each Laksathosa.

Last updated : 5.08pm


SOCIAL DEVELOPMENT

SocialW 600px 16 11 10Rs. 3,000 million to restore small reservoirs, Rs. 1,000 million to develop rural based sanitary facilities.

Establishment of a disaster management center in Pelmadulla.

Encouraging solar energy for households with an electricity bill of more than Rs. 2,000.

Rs. 1,750 million allocated for court construction and renovation, Rs. 100 million to commercial courts in the countr.

Legal community led by the CJ invited to suggest changes in the legal sector.

The Inland Revenue Department is to adopt REMIS.

Proposed to allocate Rs. 1,500 million to construct 1,000 Seva Piyasa's.

Proposed to the General Secretary to take up a public sector cadre review.

Committee to complain about delivery of public services.

Rs. 150 million for the Human Performance Laboratory.

Rs. 150 million to develop Sugathadasa Stadium.

It is proposed to allocate Rs. 25 million to establish a Pandit Amaradeva training center.

It is proposed to provide Rs. 2,500 as a scholarship for novice monks each month and to allocate Rs. 50 million for this.

It is proposed to allocate Rs. 25 million to rehabilitate religious places.

Proposed to allocate Rs. 150 million to the police in the fight against drugs.

Proposed to allocate Rs. 4,000 for youth Vocational training centers.

Proposed to change to a contributory pension scheme and we propose to allocate Rs. 1,000 million for it as the current scheme is time bomb waiting to explode.

Proposed to extend the Agrahara scheme as a lifetime.

It is proposed to allocate Rs. 3,500 million for war heroes.

It is proposed to name Samurdhi scheme as Jana Isuru.

Last updated : 4.55pm


HOUSING

Housing 600xp 16 11 10It is hoped to remove provide loans facilities to foreigner and remove conditions for the ownership for ground floor condominiums.

Measures to be taken to transfer the ownership of houses to those who have lived in government housing schemes for more than 10 years and we have allocated Rs. 2,000 million for it.

It is proposed to allocate Rs. 5,000 million for housing development in the North and Eastern Provinces.

Measures would be taken to transfer the ownership of houses to those who have lived in government housing schemes for more than 10 years and Rs. 2,000 million allocated for this.

It is proposed to allocate Rs. 5,000 million for housing development in the North and Eastern Provinces.

It is proposed to provide housing units middle and low income earners next year.

It is proposed to provide 100,000 housing units each worth Rs. 5 units to middle income earners and 250 million units worth Rs. 1 million to low income earners.

Last updated : 4.35pm


WASTE MANAGEMENT

WasteM 400px 16 11 10Creation of a real estate investment Trust.

Proposed to setting up of an agency to assist falling companies and propose an allocation of Rs. 10 million for this.

Proposed to introduce amendments to debt recovery system.

Proposed to introduce new schemes to cover pyramid schemes.

Proposed to establish Consumer Financial Protection Authority (CFPA).

Proposed to allocate CPC and LIOC use the opportunities available in the Trincomalee.

Rs. 600 million to develop the Trincomalee water scheme.

Proposed to introduce pre-paid card for the railway sector. 

Last updated : 4.26pm



INVESTMENT

INVESTMENT

Electric cars and school vans are to be regulated.

Proposed to introduce electrics cars instead of trishaws. Hoping to allocate Rs. 200 million.

Railways and SLTB will be self financed by 2018. They will use assets that have been left idle.

Proposed to reduce the cost on expressways by almost 22 percent.

Rs. 1,000 million for the MICE industry.

Government will provide a common platform for online tourism.

Hotels of more than 10 years will be assisted for refurbishment, Rs. 500 million allocated.

Feasibility studies on extending the Southern Expressway to Badulla.

Customs levies on all materials needed for prototypes will be removed.

Rs. 250 million to the Sri Lanka Institute of Nano Technology.

Allocated Rs. 1,306 million for science and technology sector.

liberalize NCC cargo

Free port anchorage of 12 hours.

Mobitel will be made to go public listing.

SriLankan and Mihin air which has been allocating colossal losses are now being commercialised

Rs. 50 million for the Department of Commerce.

We will establish 15 export villages.

Encourage the private sector to invest in the expressway corridors, we propose to allocate Rs. 1,000 million for this.

We will commence operations of Exim Bank. Rs. 10,000 million allocated as the initial contribution for it.

Propose to allocate Rs. 500 million to the IRD to UDA. We would allocate Rs. 7,500 million from the Finance Ministry to the Megapolis Ministry with immediate effect.

Special incentive for investments of more than Rs. 100- 500 million.

Minister proposes to grant a Rs. 200 million capital allowances North and Rs. 100 million Uva and Eastern Provinces for businesses over USD 30 million.

It is proposed to allocate Rs. 750 million for loan scheme for SMEs. 

Streamline EPF with the Central Pension Fund.

Those who are affected by a loan of Rs. 500,000 and come under the radar of the CRIB will be allowed to begin businesses.

Proposed to allocate Rs. 150 million to register businesses.

Minister hopes to reduce the five processes from eight to allow business friendly environment in the country.

Last updated : 4.20pm


HEALTH

All pharmacies should be registered with the government and those who do not adhere to this will be fined.Health

Proposal to allocate Rs. 1,000 million to establish specialised pediatric centers in Karapitiya, Jaffna and Ampara Base hospitals.

Formulate a mechanism to visit schools to diagnose Non- Communicable Diseases. Minister proposes to allocate Rs. 50 million and any more funds that are needed.

Rs. 200 million to upgrade the nursing training center.

Rs. 25,000 million to be allocated for the Health sector.

It is proposed to allocate Rs. 750 million for CKD patients.

Last updated : 3.40pm


EDUCATION & HIGHER EDUCATION 

EducationFinance minister proposes to allocate Rs. 10 million to fight against ragging, etc. We also propose to hand each student a sheet stating the funds spent on their education by the state.

It is proposed to provide multiple entry visas to international students.

It is proposed to allow students a loan of Rs. 800,000 for students who can not afford university education but are able to attend other UGC recognised institutions.

The minister proposes to establish private higher education institutions and establish an institute to maintain the standard of these institutions.

175, 000 Advanced Level students and 28, 000 A/L teachers to receive tablet computers.

Rs. 100 million allocated for sports in universities.

We propose to establish a scholarship for top students in universities such as Havard and MIT.

Rs. 500 million allocated to construct a 10 story building at the Karapitiya Hospital.

Govt. hopes to admit 50,000 to local universities by 2020.

Rs. 2,700 million for health insurance.

Proposal to increase payment to differently abled children from Rs. 50 to Rs. 150 million, therefore we propose to allocate Rs. 175 million.

Proposal to introduce regulation for private education institutes.

Subahakar scholarship scheme for gifted students (Rs30 million allocated to pay students a Rs. 2,500 per month)

Rs. 250 million to develop plantation schools in Kegalle and Badulla.

Smart Class rooms Rs. 5,000. The Finance minister invites the telecommunication to provide wifi services while proposing to allocate Rs. 5,000 for IT facilities.

Proposal to allocate Rs. 90,000 million for the education sector, which is an additional Rs. 17,840 million.

Rs.21,000 million allocated to develop secondary and primary schools and additional Rs. 5,000 million to develop infrastructure.

Proposed to allocate Rs. 5,000 million for sanitary facilities.

Rs.21,000 million allocated to develop secondary and primary schools and additional Rs. 5,000 million to develop infrastructure.

Last updated : 3.27pm


AGRICULTURE

Special support for the farmers in the country.AGRICULTURE

Taxes for Tea industry will be simplified.

Concessionary loans for agriculture cooperatives.

Rubber master plan will be introduced. ; Rs900Mn for replanting.

Government lands to cultivate Sugarcane in-order to promote the industry. Investors in sugar industry will be encouraged in Moneragala, Batticaloa and Kilinochchi.  2 % cess on imported sugar & 5 percent for ethanol to protect local producers.

Proposed to develop 50 agro metrological stations.

Moragahkanda and Uma Oya projects hoped to be completed soon and proposed to allocate Rs. 60,045 million.

Retailers should keep prices of a whole chicken at less than Rs. 420. Rs. 100 million to develop the local poultry sector.

Rs. 350 million allocated for investors to develop 20,000 acres of land.

Rs. 300 million allocated to establish 100 fresh water villages.

Rs. 1,200 for the development of fishing communities.

Proposal to construct a storage facility at the Dikowita fihseries harbour.

Rs. 500 million proposed to establish fish farms in Hambantota and Mannar.

Proposal to import 15,000 cows at a cost of Rs. 400 million and give atleast 10 cows to a farmer subjected to them employeeing atleast 2 Samurdhi beneficiaries

Rs. 200 million to develop the irrigation sector in Polonnaruwa, Hambantota.

Kumbakan Oya and Tharapuram Wewa renovations Rs. 600 million.

Last updated : 3.03pm


Finance Minister Ravi Karunanayake begins delivering budget speech 2017 a short while ago.

 

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