Before the budget – Government decisions that impacted the economy

Before the budget – Government decisions that impacted the economy

Written by Staff Writer

28 Sep, 2018 | 8:07 pm

Colombo (News1st) – Every year the Government of Sri Lanka present’s its annual budget which details its plans for the upcoming year. However, with the passage of time, it seems that the current administration has forgotten the budget which they proposed in November 2017. We say this because a large number of changes, that have a direct impact on the economy, were made after the budget was presented.

Many policy decisions that were not included in the 2018 budget presented to parliament on the 9th of November last year were added during the course of the past 10 months. 19 supplementary estimates were presented to parliament to fund these additional programs during the past 10 months.

So has the budget or the appropriation bill achieved its objectives?

Here are some of the decisions taken by the government, that was not initially included the budget proposal.

06.12.2017 – A maximum retail price for dhal, dried fish, and coconut introduced

26.12.2017 – A Maximum retail price for Nadu rice introduced

24.02.2018 – Tax on imported potatoes increased by Rs 29

01.04.2018 – Multiple tax revisions through the enactment of the new Inland revenue act

17.04.2018 – 15% tax imposed on gold imports

27.04.2018 – Price of a 12.5 kg domestic gas cylinder increased by Rs 245

04.05.2018 – Price of a Kilogram of Milk powder increased by Rs 50

09.05.2018 – Import tax on Dhal increased

10.05.2018 – Fuel price hike ( Petrol by Rs. 20 / Diesel by Rs. 14 / Kerosene Oil by Rs. 57)

22.05.2018 – Bus fares increased by 12.5%

12.06.2018 – Price of Kerosene oil reduced to Rs. 70

18.07.2018 – Rural Development Program Gamperaliya launched

10.07.2018 – Fuel price hike ( Petrol by Rs. 9/ Diesel by Rs. 9 / Super Diesel by Rs 10)

01.08.2018 – Tariffs on vehicles with an engine capacity less than 1000cc increased to Rs 1.5 million

10.08.2018 – Fuel price hike ( 95 Octane Petrol by Rs. 2 / Super Diesel by Rs. 1 )

10.09.2018 – Fuel price hike ( Petrol by Rs. 4/ Diesel by Rs. 5)

12.09.2018 – Bus fares increased by 4%

26.09.2018 – Price of a 12.5 kg domestic gas cylinder increased by Rs 195

27.09.2018 – Prices of hoppers, tea, milk tea, rice packets increased

 

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