The budget for 2017 was presented to Parliament by the Minister of Finance Ravi Karunanayaka yesterday (10th)
According to the budget
*Rs. 800,000 loan for private university students
*Minimum traffic fine increased to Rs. 2,500
*Duty, VAT and PAL removed on agri machinery
*Rs. 5,000 mn each for schools to get 50 computers
*Rs. 17,480 million for developing education sector
*Rs. 5,000 million to provide tabs to A/L students
*Insurance scheme for all schoolchildren
*University lecture hours to be extended till 8 pm
*Tax concessions for investments over USD 100 mn
*Housing bank to be set up by merging HDFC, SMIB
*Tolls on expressways reduced during night hours
*State sector PAYE to be paid by workers themselves
Among the budget proposals are:
Tolls on the expressways will be reduced by Rs. 50, between 9 pm to 5 am every day
Online transactions will have a tax.
All importers must be registered with Customs previously, exporters can get a shipment out of the country within 24 hours.
100 items to be removed from CESS with immediate effect.
tax incentive on exporting vehicles which are more than 5 years old.
reduce the maximum retail price of Green gram by Rs. 15 per Kg, Dhal by Rs. 10 per Kg, Potatoes by Rs. 5 per Kg, Sprats by Rs. 5 per Kg, White Sugar by Rs. 2 per Kg, Kerosene by Rs. 5 per litre, LP Gas by Rs. 25 per 12.5 Kg domestic cylinder. VAT will not be applicable on LP Gas. Propose to maintain the price of a 400 g locally produced milk powder at Rs. 295 and 425 grm locally produced Canned fish at Rs. 125.
Allocate Rs. 500 million for Lak Sathosa, Rs. 10,000 for each Laksathosa.
Rs. 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.
Encourage solar energy for households with an electricity bill of more than Rs. 2,000.
Allocate Rs. 1,750 million for court construction and renovation, Rs. 100 million to commercial courts in the country.
Invite the legal community led by the CJ to suggest changes in the legal sector.
The Inland Revenue Department to adopt REMIS.
Allocate Rs. 1,500 million to construct 1,000 Seva Piyasa’s.
The General Treasury to undertake a cadre review to optimize the service delivery.
A committee to complaint about delivery of public services.
Allocation of Rs. 150 million for the Human Performance Laboratory.
Allocation of Rs. 150 million to develop Sugathadasa Stadium.
Allocate Rs. 25 million to establish a Pandit Amaradeva training center.
Allocate Rs. 50 million to provide Rs. 2,500 as a scholarship for novice monks each month.
Allocate Rs. 25 million to rehabilitate religious places.
Request to the Ceylon Tobacco Company to give Rs. 500 million Presidential Secretariat.
Allocate Rs. 150 million to the police in the fight against drugs.
Allocate Rs. 4,000 for youth Vocational training centers.
Change to a contributory pension scheme and allocate Rs. 1,000 million for it.
To extend the Agrahara scheme as a life time.
To allocate Rs. 3,500 million for war heroes.
To name Samurdhi scheme as Jana Isuru.
To transfer the ownership of houses to those who have lived in government housing schemes for more than 10 years and allocate Rs. 2,000 million for it.
To allocate Rs. 5,000 million for housing development in the North and Eastern Provinces.
To provide housing units middle and low income earners next year, 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.
To create a real estate investment trust.
To set up of an agency to assist falling companies and propose an allocation of Rs. 10 million for this.
To introduce amendments to debt recovery system.
To introduce new schemes to cover pyramid schemes.
To establish Consumer Financial Protection Authority (CFPA).
To allocate CPC and LIOC use the opportunities available in Trincomalee.
Allocate Rs. 600 million to develop Trincomalee water scheme.
To introduce pre paid card for the railway sector.
To regulate electric cars and school vans.
To allocate Rs. 150 million as loans to purchase 32 seats vans for school vans.
To introduce electrics cars and allocate Rs. 200 million.
Allocate Rs. 1,000 million for the MICE industry.
Allocate Rs. 500 million to refurbish more than 10 years old hotels
To have feasibility studies on extending the Southern Expressway to Badulla.
Customs levies on all materials needed for prototypes will be removed.
Allocate Rs. 150 million to develop pharmaceutical labs.
Allocate Rs. 250 million to the Sri Lanka Institute of Nano Technolofgy.
Allocate 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.
Commercialize SriLankan and Mihin air
Allocate Rs. 50 million for the Department of Commerce.
15 export villages to be established
Encourage the private sector to invest in the expressway corridors, Allocate Rs. 1,000 million for this.
Commence operations of Exim Ban and Rs. 10,000 million allocated as the initial contribution.
Allocate Rs. 500 million to the IRD to UDA. 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.
Grant a Rs. 200 million capital allowances North and Rs. 100 million Uva and Eastern Provinces for businesses over USD 30 million.
Allocate Rs. 750 million for loan scheme for SMEs.
Streamline EPF and the Central Pension Fund.
Those who are affected by a loan of Rs. 500,000 and come under the radar of the Credit Information Bureau (CRIB) will be allowed to begin businesses.
Allocate Rs. 150 million to register businesses.
All pharmacies should be registered with the government and those who do not adhere to this will be fined
Allocate Rs.1,000 million to establish specialized pediatric centers in Karapitiya, Jaffna and Ampara Base hospitals.
Formulate a mechanism to visit schools to diagnose Non- Communicable Diseases. Allocate Rs. 50 million and any more funds that are needed
Allocate Rs. 200 million to upgrade the nursing training center
Allocate Rs. 25,000 million for the Health sector.
Allocate Rs. 750 million for CKD patients
Allocate Rs. 250 million for the e- learning center at the Kelaniya University.
Allocate Rs. 300 million as a payment to private sector to train students
Proposal to introduce scholarships to students who wish to attend vocational centers. Allocate Rs. 300 million for this.
Allocate Rs. 10 million to fight against ragging, etc. To hand each student a sheet stating the funds spent on their education by the state.
Provide multiple entry visas to international students
Students who cannot afford university education but are able to attend other UGC recognized institutions given a loan of Rs. 800,000
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.
Allocate Rs. 100 million for sports in universities.
To establish a scholarship for top students in universities such as Havard and MIT.
Allocate Rs. 500 million to construct a 10 story building at the Karapitiya Hospital.
To admit 50,000 to local universities by 2020.
Allocate Rs. 2,700 million for health insurance.
Allocate Rs. 175 million to increase payment to differently abled children from Rs. 50 to Rs. 150 million.
To introduce regulation for private education institutes.
Establish Subahakar scholarship scheme for gifted students (Rs30 million allocated to pay students a Rs. 2,500 per month)
Allocate Rs. 250 million to develop plantation schools in Kegalle and Badulla.
To allocate Rs. 5,000 million for sanitary facilities
Allocate Rs.21,000 million to develop secondary and primary schools and additional Rs. 5,000 million to develop infrastructure.
To allocate Rs. 90,000 million for the education sector, which is an additional Rs. 17,840 million.
Allocate Rs. 200 million to develop the irrigation sector in Polonnaruwa, Hambantota.
Allocate Rs. 600 million. To renovate Kumbukkan Oya and Tharapuram Wewa
to develop 50 agro meteorological stations.
Allocate Rs. 60,045 million to complete Moragahkanda and Uma Oya projects.
Allocate Rs. 100 million to develop the local poultry sector. The prices of a whole chicken should be less than Rs. 420.
Allocate Rs. 350 million for investors to develop 20,000 acres of land.
Allocate Rs. 300 million to establish 100 fresh water villages.
Allocate Rs. 1,200 for the development of fishing communities.
To construct a storage facility at the Dikowita fihseries harbour.
Allocate Rs. 500 million to establish fish farms in Hambantota and Mannar.
To import 15,000 cows at a cost of Rs. 400 million and give at least 10 cows to a farmer subjected to them employing at least 2 Samurdhi beneficiaries
To charge Rs 5,000 on one metric ton of sugar cane.
Allocate Rs.74 million to Coconut Research Institute (CRI) and Cococnut Develpment Board.
Allocate Rs. 50 million to the rubber institute
Plantation companies to have only 5,000 acres but employment would be ensured
To reduce taxes on machinery brought in to the country for farming, provide large scale farmers with land.
Introduce a value added production system for selected fruits with a new loan scheme introduced for the purpose.