Budget 2017: As it happened

Budget 2017: As it happened

Budget 2017: As it happened

Written by Staff Writer

10 Nov, 2016 | 1:37 pm

Good afternoon and welcome to the live coverage of the 2017 Budget. Minister of Finance Ravi Karunanayake will present Sri Lanka’s 70th budget before parliament at 2:00 p.m. local time. The latest updates will be on top of the page.

5.10 And that brings to an end the Budget 2017. Expect a more summarised version of the budget proposals in a while….

5.01 : Suggestion to remove 100 items from CESS with immediate effect

5.00 : Expressway prices to reduce by Rs. 50 from 9 p.m. to 5 a.m

4.53 : Prices reduced for certain essential goods. Dhal (one kilogramme) by Rs. 10, dry fish by Rs.5, sugar by Rs.2 potatoes by Rs. 5

Prices reduced for Kerosene (1 Litre) by Rs 5 and a domestic gas cylinder by Rs. 25

4.50 : Rs. 3000 million allocated to re-construct small scale tanks

4.43 Rs 100 million for the development of Diyagama stadium, RS 125 million for the development of Sugathadasa Stadium

4.42 : Rs. 25 million allocated to establish a Pandit Amaradeva Training Centre

4.34 : RS 1 million to be allocated to each Grama Sevaka division to encourage self employment

4.30 : 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; Minister of Finance

4.28 : Samurdhi to be revamped under the name Jana Isuru

4.24 : Rs 5000 Million for speeding up the process of building houses in the Northern and Eastern provinces

4.22 : 25, 000 houses and lands for those to be given from government expenditure to sstate workers

4.12 : RS. 1000 loan allocated to purchase electric cars

4.09 : Electric vehicles to be introduced to reduce the harm caused by three-wheelers

4.03 : Rs. 1,306 million to be allocated for science and technology

4.01 : Rs. 50 million to be allocated for the Department of Commerce

3.59 : Fifteen export villages will be established

3.58 : Rs 7500 million will be allocated for Megapolis directly from the Finance Ministry

3.38 : Rs 500 million worth secure loan scheme for small and medium Businesses

3.30 : Shops are proposed to be open till 11 p.m. while private bus owners have agreed to run till 11 p.m.

3.28 : All medical drugs should be registered

3.26 :  Rs 200, 000 to be allocated for nurses training

3.21 : Five-year multiple entry visa for students who wish to study in Sri Lanka

3.19 : Opportunity will be granted for private institutes to provide degree-level education and establishment of a board for regulating and maintaining standards of those degrees

3.15 : Lectures to be extended for university students till 8 p.m.

3.14 : New 10-storey building for the Karapitiya Teaching Hospital

3.12 : Courses related to education will be introduced at the Ruhuna, Peradeniya, Kelaniya, Jayawardenapura  and Jaffna universities

3.10 : An insurance worth Rs 200,000 to be granted for students

3.08 : Savings account for every student from the government

3.06: Rs.5 billion allocated to provide Wi-fi and Tabs for 100000 graduates entering state universities. Free laptops for the Advanced Level students and teachers

3.00: Rs 200 million for water inspection in eight districts

2.58: Rs 1000 million for the development of Uma Oya Yaan-Oya

2.53: 500 million allocated for establishment of aquatic zones

2.50: 400 million allocated for the fresh milk production:Minister of Finance

2.47: Minimum price of Rs.5000 per metric tonne for sugar cane

2.46:Plans to save Rs 29 Billion for tax payers money

2.45: Rubber master plan; Rs 900 million for replanting

2 .42: Government expects to increase tea exports to USD 5Bn by 2020

2.41: New loan scheme for farming cooperation

2.34 :Unused land will be used  in a way beneficial for agriculture: Minister of Finance

2.31: University education will be broadened

2.29: Improved technology will be introduced for Agriculture

2.25: Domestic and International Markets will be broadened for SMEs ; Minister of Finance

2:17 – President arrives in Parliament

capture Minister of Finance,Ravi Karunanayake kicks off proceedings

 

 

 

 

 

 

 

2.05 PM :Minister of Finance Ravi Karunanayake begins the budget speech

2.00 PM : Speaker Karu Jayasuriya enters the parliamentary chambers to begin proceedings

 

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