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Last Updated : 2024-03-29 18:14:00
He shared the following:
Basically, we will have a Cabinet meeting early in the morning. Then, we will move for the presentation of it. We worked day and night for the formulation of it. In fact, we had a meeting till 3.30 am on Tuesday at a stretch.
We met the President, the Prime Minister, one time Finance Minister Ronnie de Mel and former President Chandrika Bandaranaike Kumaratunga.
We have given an Appropriation Bill. It outlines the total nett burrowing intended to be raised. Then, we will basically put forward the budget proposals. In that, you would see the areas where there are reductions which will be compensated. Don’t look at a sideshow! Look at the main show!
This time, we are giving a lot of emphasis on employment creation, export growth, infrastructure, agriculture, housing, roads, water projects and all of them. You will be surprised when you see the budget.
We are basically looking at the commercialization of it. That is the modernization of it. We look at the introduction of high yielding crops. That is a way forward in the economy.
We have a surplus. We have cut down the expenditure. We have increased revenue even though the minor opposition stymies it. We have steered the economy because we instilled fiscal discipline. There is criticism in the media on customs and all. Certainly, we have given their capacity.
That is by making it smart collection. You do not tax and tax. People who pay taxes do it enough. There are 23 million people in the country. There are only 6,000 files registered for tax including those paying PAYE. This is absurd. Those are the areas we will look at. The tax basis will be broadened.
Not like that. There is no necessity for it.
It was only a temporary mechanism. It was intended for a period. We inherited a mess from the previous regime. In order to get our political proposals to place, we brought it. That’s all. The Super Gain Tax will not come again.
It will be coming up with the Capital Gain Tax.
Yes.
Burrowing is an inevitable consequence. It is an inevitable happening. But, when we borrow, we have to look at the cost benefit. That has to be considered in opting for borrowings. What happened during the previous regime was that they borrowed at high interest rates, but with less rates of returns. Where is the gap? That is the corruption element. We have abolished it under the current rule of President Maithripala Sirisena and Premier Ranil Wickremesinghe. We are getting the economy into proper order. That is happening step by step. We will show you in the budget how we are going to raise revenue without impact on people.
That is a hysteria created by the media. You all listen to somebody and write basically exaggerating. At the end of day, you reported saying that the Supreme Court rejected it. But, the Supreme Court only rejected the manner in which we brought it in. We brought it properly after that with the Cabinet approval signified to Parliament. We bring this reluctantly. We want to make sure that we reduce it as soon as possible. This is an increase being made for the sins committed by the last government. We will do away with it as soon as we get over the current problem.
You mean, the crisis situation? The major crisis is over. But debt remains debt.
There is nothing to do with the rupee drop. The last government artificially kept the rupee. We removed such artificial interference. That’s all.
Smart decision-making, digitalization are being planned. We will ensure that government servants are target-oriented. We will be introducing new legislation to that effect.
We increased their salaries substantially. We gave them Rs.10, 000. What is given is given. We have given them what they did not get for more than 10 years under the Rajapaksa rule. We gave it in the first 100 days of our government.
That is what we have promised.
We will outline all in the budget.
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