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President concludes Budget Speech 2014; key proposals

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His Excellency Mahinda Rajapaksa concluded his Budget 2014 speech a short while ago.

From several proposals in the budget, the following were highlighted;

  • Every Pirivena to get Rs. 500,000

  • State sector employees’ cost of living allowance will be increased by Rs.1200

  • Pension scheme for farmers from next year

  • University lecturers’ education allowance will be increased by 5% of basic salary

  • No low-income, unauthorised Colombo city dweller will be evicted

The President says that in no way would government banks or institutions be privatised. The President made the following statement while reading the  Budget 2014 speech in Parliament today.

President Rajapaksa also said that there will be no outright sale of state land to foreigners. Further,  adding, His Excellency stated that the Department of Inland Revenue, Motor Traffic, Customs,and the  Ministry of Finance will be interconnected.

President Mahinda Rajapaksa said that there will be a new pension scheme implemented for farmers from next year.

The President made the above statement whilst presenting His Excellency’s Budget 2014 Speech at the Parliament today. He further stated,

“Our farmers never asked anything for free, instead proper irrigation facilities, and protection from wild animals.”

Speaking more on the agriculture industry, President Mahinda Rajapaksa also said that the government has already requested the World Food Programme to recognise Sri Lanka as a recognised rice supplier.

President Mahinda Rajapaksa stated that all Pirivenas in the country will be awarded Rs.500,000 in addition to the Pirivena education to be modernised; and all Pirivena teachers to get facilities as other teachers in the state sector.

The President made the following statement from his Budget 2014 Speech which was read in Parliament. Speaking on education, further, the President said that the basic salary of university lectures will be increased by 5% .

He also stated that an additional funding will be granted to improve sanitation facilities in rural schools and the education sector will be granted more fund allocation.

Relating to information technology, His Excellency stated:

Our vision is to double jobs in the information technology sector next year. An ICT zone in Hambantota will be constructed. The President also said that a Post Graduate Institute of Medicine will be established.

The Budget 2014 will be re-convened at the Parliament on Friday November 22, at 09.30 a.m.

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