Budget to spur development

Rasika Somarathna and Sandasen Marasinghe

Prominent politicians and officials described the 2011 budget presented by President Mahinda Rajapaksa as the Finance Minister in Parliament yesterday, as one which would spur development and provide relief to the public on a long-term basis. They said the budget proposals were aimed at sustaining the Government’s achievements and managing future risks in the economy. On a long-term basis it would help bring down poverty, unemployment, social and financial inequity, they added.

Prime Minister D M Jayaratne said the budget proposals had given pride of place to achieve equity in development. They are aimed at providing equal facilities to all. The budget envisages strategies to make development an inclusive and a beneficiary process to the people. He said the budget contained proposals to improve education and skills of the younger generation with the intention of making them stakeholders of country’s development thrust.

Petroleum Industries Minister Susil Premajayantha said the budget proposals presented yesterday reflected the Government’s development approach during the next five years. They are aimed at sustaining the current positive trends in the economic and development sectors. The proposals would spur new vistas in line with the country’s growth requirements, he added.

He said efforts at infrastructure development would be accelerated during the next five years. The people would be provided equal access to roads, electricity, health, water, communication etc. he noted. These measures would help to bring down cost of living, unemployment and would improve the overall living standards on a long-term basis. The proposals would give a major impetus to local and export oriented industries, he said.

Central Bank Governor Ajith Nivard Cabraal said the Government’s budget proposals for 2011 had laid the path which should be pursued to achieve a per capita income above US $ 4,000 during next few years. They have also paved the way for greater cooperation between public and private sectors to work in harmony for the countries future growth, he added.

Education Minister Bandula Gunawardena said the proposals would ensure equitable distribution of education facilities among all. The wide ranging tax reforms would bring relief to the public and spur investment. They would pave the way for a skilled labour force, political stability, a low tax regime and efficient Government institutions to facilitate investments, he observed. They also aims to spur export oriented industries, investment, productivity, employment and to eradicate poverty. He said North and East development was one priority. This budget has no hidden agendas, he said.

Construction, Engineering Services, Housing & Common Amenities Minister Wimal Weerawansa said the budget proposals had taken on board the needs of all relevant sectors. The Minister welcomed the proposed tax reforms and said they would boost local industries. He said the public sector had been provided with maximum benefits, in the current context.

External Affairs Minister G L Peiris described the budget proposals as ones which would take economic development to villages. He said empowering villages was Government’s central theme in development. No village in Sri Lanka would be left out of this development drive, he added.

International Monetary Co-operation Senior Minister Sarath Amunugama said the budget proposals projected strategies for the country’s prosperity. He said the proposals would spur investments. He was of the opinion that this was a relief and development oriented budget.

Fisheries and Aquatic Resources Development Minister Rajitha Senarathne said the decision to exempt the fisheries industry from income tax would pave the way for unprecedented growth. Credit facilities at concessionary rates would be an additional bonus, he said.

Economic Development Minister Basil Rajapaksa said the budget was primarily a development oriented one. It has taken suggestions from all sectors. This would bring long-term benefits to the nation and its people, he added.

Mass Media and Communication Minister Keheliya Rambukwella said this budget was futuristic one. It has granted much relief to the people by reducing taxes and increasing salaries for the public servants. The budget encourages investments. It has major allocations for education, health, employment generation etc., he said.

Irrigation and Water Resources Management Minister Nimal Siripala de Silva said this budget was a firm foundation to make Sri Lanka the wonder of Asia. It has been designed to reach the goals that are envisaged in the Mahinda Chintana vision for the future, he said.

He said there is much hope for the youth in the country. Much of the conflicts and problems that were created in society resulted as the youth’s involvement in the economic development was neglected. But through this budget those shortages have been rectified.