Last Updated : 28-07-2014 17:53

 
 

Budget 2014

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President Mahinda Rajapaksa today presented the 2014 Budget in Parliament with an increased focus on boosting infrastructure through development projects, particularly aimed at improving local agriculture, animal husbandry, road connectivity and higher education.



LIVE BLOG BUDGET 2014

Daily Mirror Online will give live coverage of the budget 2014 reading presented to parliament today

15.19
- Not too sure if TNA was present. It will be interesting to see what the UNP and the JVP have to say on the budget proposals. Signing off for now is the Daily Mirror web team. We hope you enjoyed our coverage.

15.18 - Sittings adjourned to 9.30 am tomorrow.

1517- Speaker Chamal Rajapaksa speaks, congratulates President on being appointed Commonwealth Head


15.14- President ends two hour long speech


15.13 - Cost of Living allowance to be increased by Rs.1200 from January 2014 for state workers

15.07- Expanding Police training schools and other facilities

15.06 - Three new Housing complexes to be constructed to ensure Policemen serving in Colombo would have no problem in location

15.05 - Civil Security in the North and to keep law and order in the country Police service plays a pivotal role.

15.03 - Judges' personal allowances to be increased by 8% to keep the proffession viable and attractive.


15.01 - Colombo Stock Exchange (CSE) is now stable. Three year half tax relief when listing new companies on the CSE.


14.50 - Rs. 1200 million from Asian Development Bank (ADB) given to build 1000 new roads in populated areas in order to connect to the main roads.


14.57 - new schemes comprising 5000 houses each to be built. Temporary residents will be given priority when allocating houses.

14.55 - No person living in Colombo will be made to relocate from the city. New housing schemes will be built.


14.55 - House planning systems to be modernised- Maigawatthe, Prajapura etc.


14. 52 - Colombo to be free of effects of any natural disaster such as floods going to be made into an environment friendly city. Allocation for such is going to be increased in 2014.

14.48 - Modern Pilot training school to be established.


14.4 3- Hambanthota to be Information and Communication Technology (ICT) hub in South Asia.


14.37 - Sri Lanka's Information and Communication Technology (ICT) has made a lot of progress. Will take measures to ensure that students will recieve high quality education in ICT.


14.36 - S. B Dissanayake who is not the most popular Minister of Higher Education among students looks on and applauds.

14.35 - Proposes increasing and modernising hostel facilities in existing universities, lecturers' Educational allowance by 5%.


14.33 - Lecturers' salaries to be increased. Moratuwa University to be modernised. Will take steps to build modern University Cities.


14.31- MR mentions Homagama and looks behind to find the MP representing Homagama. All smile.


14.26 - Speaks about art- going to establish new Art Centres,also will modernise the Lionel Wendt in Colombo, the Galle Performance Centre and others.


14.24 - 180 Million USD donation to be received from China to modernise the OPD units in Colombo, Kalubowila and Ragama hospitals.

14.22- To stop Kidney diseases Rs. 900 million to be spent to build a water purification unit in North Central Province (NCP).


14.20 - Chemotherapy units to be established in hospitals in Galle, Jaffna and other districts. Will help reduce patients in the waiting list for the Maharagama Cancer hospital from 3 years to 6 months.


14.17- Rs. 300 million to be given to Police child and women protections bureaus. Despite the country having rich religious and cultural upbringing female and child abuse is rampant. This must stop, MR says.


14.14 - No Provincial Council (PC) taxes on business with monthly income below Rs.50,000.


14.11- Want the Urban Development Banks to completely focus on enhancing female entrepreneurship in 2014.


14.10 -Female entrepreneurs to be given interest free loans of up to Rs. 250,000. Females aged 68 and below can get this who is involved in their own business.

14.07 - 1000 bridges to be built in remote villagers in 2014. Rs. 4500 million to be allocated for gama neguma and other village level development.


14.06 - Calling all banks and financial service providers to help " Divineguma" families.

14.03 - Speaks about poultry, milk industries.


14.02- 20,000 milk cows to be imported to the country in order enhance milk manufacturing.


14.00 - I Proposed increase taxes for importing fish. Speaks about the importance of rejuvenating the fisheries industry throng infrastructure development, boats, and other methods.


13. 58 - Japan, India and China- we are trying to increase more avenues for export through bilateral exports with these countries.


13.58 - Thrice to be spent on the textile industry, tax relief to be given for research and development on the textile industry.

13.57- We want to be the one of the top 10 countries in the world providing textiles by 2020.


13.53 - House breaks into applause.


13.52- Farmer pension to be given from next January for farmers over 63 years. Apart from Govisetha, Rs. 1000 million of capital will be used to pay this pension.

13.52 - Tea rubber and coconut CESS tax to be strengthened.


13.51 - Coconut industry exempt from Nation Building tax for three years.


13.50 - 5000 to be given to small tea crop owners to resuscitate business.

13.40 - We will give 50,000MT of rice to the World Health Organisation (WHO) for relief work.

13.48 - Now we are able to work with the World Health Organisation (WHO) who helped us during the war.


13.48 - Many of these proposals have come following discussions with the World Health Organisation (WHO).

13.47 - The budget seems highly focused on development on village level thus far, micro centric.


13.46- Fertilizer provision to be given during both Yala and Maha seasons for Rs.350.

13.42- Rs. 1700 million will be allocated for irrigation systems.


13.42- The farmers didn’t ask for relief for free. What they asked us was irrigation, road systems and to protect them from wild elephants.

13.40- Tax can be paid through the internet with the motor vehicles department and land registry systems being brought under the treasury.


13.39- Government Ministers and MPs listen attentively.

13.38- Nation building Tax to be imposed on banks.

13.31- As a government that is focused on giving relief we have to earn money through taxes on vehicles, liquor and cigarettes.


13.36 - Budget deficit will be reduced from 5.8% to 5.2% by 2014, 4.5% in 2015 and expected to reduce to 3.8% in 2016.


13.36- Despite all of this we have been able to reduce the deficit to 5.8.


13.34 – Applause from government members. We have increased state sector jobs.

13.33- Previous budgets were focused on privatizing, but we haven’t. Still our deficit is not as bad as theirs. I hope you remember these times Mr. Speaker.


13.31- 48 state corporations have been turned profitable, working on good governance and the rest on these corporations.


13.30 – Sri Lankan airlines to get 150 million dollars investment and 50 million for Mihin Lanka to strengthen air capability.

13.28- 300 million dollar investment on drainage system to stop waste by 20%


13.27- have been able to curtail the CEB losses this year, CPC has started paying loans taken from banks,13.30 – Sri Lankan airlines to get 150 million dollars investment and 50 million for Mihin Lanka to strengthen air capability

13.28- 300 million dollar invesmement on drainage system to stop waste by 20%

13.27- have been able to curtail the CEB losses this year, CPC has started paying loans taken from banks,


13.26 - Laws will be brought to stop foreigners from buying land outright.


13.24 - We will never privatise Banks


13.23 - We must not only focus on exporting goods. We have capacity to import knowledge, services related to technology, ports etc


13.22 - Intends on increasing exports using the ports and airports constructed in the country


13.21-Increase exports to Latin American countries.

13.20- Intends on increasing textile imports by 6%


13.18- Construction industry contributes 10% of the GDP currently.

13.17 - Members of the government attentively listen to MR, JVP and UNP boycott debate.


13.16 - Agriculture sector has witness improvement in many crops


13. 15 - Country saw 7.7 growth rates in third quarter of the country


13.12 - We can’t remember the last time there were power cuts in the country, the government has taken all steps to ensure that infrastructure development such as power, and water was provided.  Helped reduce poverty rate


13.12 - Government takes pride in having reduced the poverty to 6% in 2013


13.09 - The summit ensured that the world leaders were given a true picture in terms of development and democracy prevailing in the country. Helped with enhancing image of the country


13.09 - CHOGM was the first international summit after Non aligned in 1976


13. 08 - Says that the people have shown faith in his government giving them resounding victories in successive elections


13.06 - President Mahinda Rajapaksa begins addressing parliament.


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