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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