Sri Lanka Government Budget 2013

President Mahinda Rajapaksa presented Sri Lanka's 66th Budget (2013) in Parliament on 8th November 2012.  Government targets a US $ 100 billion GDP by year 2016 which will enable Sri Lanka to become a middle income country.  

Highlights of the 2013 Budget are as follows:

        + The fee on Motor vehicle revenue license will be increased from 2013

        + Livelihood allowance of Rs.5,000 per month to the victims of the 1980 July strikers

        + Rs.1000 million for three year housing loan scheme for security forces personnel

        + Taxes on imported liquor will be increased by 25%

        + Cost of Living allowance for pensioners will be increased by Rs.500/-

        + Monthly allowance of minimum Rs.1500 will be paid to every public servant

        + Rs.300 million to improve indigenous medicinal systems

        + Rs.100 million allocated to support media involved in tourism coverage

        + Selling lands to foreigners will be completely prohibited. 

        + Interest on loans obtained by farmers in the drought stricken areas will be fully abolished. 

        + Duty on items used for organic fertilizer will be removed. 

        + Re-forestation will be carried out to increase the forest coverage up to 35%. 

        + Guaranteed price for paddy will be increased to Rs.35 and Rs.37 per kg. 

        + Rs.126 billion to provide drinking water facilities to1.58 million families in various districts.

        + Supermarkets with revenues of over RS 50M annually will be imposed NBT and VAT. 

        + All financial firms to pay 1% of their profits to National Insurance Fund.

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