*PAYE tax threshold increased from Rs. 750,000 to 2.4 mn a year
*400 g powdered milk price reduced to Rs. 195
*Prices of ten other essential items also reduced
*Duty free vehicle permit scheme abolished, including that for MPs
* Mahapola University to be set up in Malabe
*Budget deficit stands at Rs. 740 billion
*Interest free three-year loan for undergrads to buy laptops
*Additional Rs. 10,000 Mn for Pubudamu Polonnaruwa Project
*A lump sum payment per person of Rs. 250,000 to July strikers
*Rs. 1 million insurance scheme for fishermen
*100,000 houses to be built in five years for slum dwellers
*EPF, ETF amalgamation only with the consent of workers, TUs
*Wholesale and retail trade to be exempted from VAT
*Additional Rs. 10,000 Mn for Pubudamu Polonnaruwa Project
November 21, 2015, 7:54 am
Finance Minister Ravi Karunanayake presenting the Budget (Pics by Kamal Bogoda, Dimuthu Premaratne and Saman Abesiriwardena)
by Saman Indrajith
Finance Minister Ravi Karunanayake yesterday delivered what the government called a progressive and budget. He took away the duty free vehicle scheme generally enjoyed by the government sector while granting much needed relief to the hard working private sector by raising the PAYE tax threshold. He requested that a pay hike of Rs 2,500 be given to the private sector workers.
