Sri Lanka: One Island Two Nations

Friday, November 11, 2016

2017 budget of Ravi -revolutionizes education: Rs. 800,000.00 and Rs. 500,000.00 interest free loans !

Full text and Video footage of the 2017 budget speech

(Lanka-e-News -10.Nov.2016, 10.30PM) Finance minister Ravi Karunanayake presented the budget (second reading of the appropriation bill) in parliament today.

The sessions commenced at 2.00 p.m. and president Maithripala Sirisena too was in parliament to hear the budget speech.

A number of far sighted measures had been taken pertaining to education in this year’s budget .The main measure being , granting of an interest free loan of Rs. 800,000.00 to each of the 15000 students who are deprived of University education in order that they can pursue their higher education. These students are to be selected based on the zero score , and they can collect the loan of Rs. 800,000.00 as the cost of the higher education course from an Institution recognized by the University Grants Commission . A sum of Rs. 300 million annually has been set aside for this.

The commencement of this system in SL that is followed in other advanced countries is most useful and is an introduction that can bring about a most salutary revolutionary change.

Another far sighted measure has also been taken . To overcome the dearth of teachers of mathematics , science and English in the ‘difficult areas’ , a sum of Rs’ 500,000.00 is to be granted as interest free loan to pursue higher education in those subjects. They are to be enrolled as teachers , and they have to compulsorily serve in the difficult areas for three years. 5000 teachers are to be enrolled for next year , and a sum of Rs. 100 million has been set aside towards this.

Funds have been set aside for vocational training in the spheres where there is a dearth . For example , hair styling and cinnamon Industries where there is a dearth . A sum of Rs. 300 million has been set aside towards this, while a sum of Rs. 300 million has been allocated towards training in health and construction .

A sum of Rs. 125 million for the construction of an e learning center at Kelaniya University ; and to increase the number of students learning medicine at the Ruhunu University from 160 to 300 , a ten story medical faculty is to be constructed, and towards this a sum of Rs. 500 million has been allocated via the budget.

What are revealed above relate to the education sphere . The full budget speech of Ravi Karunanayake is hereunder.