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Thursday, 10 November 2016 - 14:05
Update: Prices of essential products reduced
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State has taken steps to reduce Dhal by Rs. 10, potatoes by Rs. 5, sprats Rs.5, Kerosene oil by and Gas by Rs. 25.

Also Highway toll will be reduced by Rs50 from 9 pm to 5 am.

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Finance Minister Ravi Karunanayake proposed in his budget speech to encourage the use of electric cars in place of three wheelers.

In addition Budget 2017 proposed to lift the existing 25% Cess on construction industry.

The minister also proposed in his budget to list hotels, Colombo Grand Hyatt, Grand Oriental, Waters Edge, Hilton Hambantota and Mannar Salterns on Colombo Stock Exchange to earn 1000 million rupees to government coffers.

The minister also proposed to rename Samurdhi Movement as Jana Isuru. 

At the same time he proposed to implement a 500 thousand housing scheme for the middle class people.

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Ravi Karunanayake, in his capacity as the Minister of Finance, presented the Budget for the fiscal year of 2017 to the Sri Lankan Parliament, a short while ago.

Meanwhile, budget speech will be broadcast live on Hiru TV.

Finance Minister Ravi Karunanayake said in his Budget speech that tablets computers will be provided free of charge to GCE Advanced Level students and teachers.

He proposed to allocate 5000 million rupees to implement the project.

The Finance Minister further said that an additional 17.84 billion rupees will be allocated for education in budget 2017.    

In addition, Budget 2017 has proposed to introduce a 200 thousand rupees insurance cover for each school student.

Finance Minister Karunanayake also proposed a 50% subsidized loan scheme for farmers who grow value added fruit varieties.  

He said that this subsidy could be extended to paddy cultivation as well.

Minister Ravi Karunanayake presenting the budget 2017 stated that 7,500 million rupees will be allocated from the Finance Ministry to the Megapolis Ministry with immediate effect.

Also a Special incentive will be given for investments of more than 100- to 500 million rupees.

It was also proposed to grant a 200 million rupee capital allowances to North and 100 million rupees to  Uva and Eastern Provinces for businesses over 30 million dollars.

Watch it live below..

Ravi Karunanayake, in his capacity as the Minister of Finance, presented the Budget for the fiscal year of 2017 to the Sri Lankan Parliament, a short while ago.

Meanwhile, budget speech will be broadcast live on Hiru TV.
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