Budget benefits for capital market

The budget 2011 focuses on capital market development, industry stakeholders said. Exchange Commission Chairperson Indrani Sugathadasa said the budget has focused on developing and improving the capital market.

She said the budget has promoted investors especially in attracting more foreign investors. The Unit Trust industry has also been promoted and encouraged. "By promoting the Unit Trust industry it stabilizes the bottomline," she said.

Logan Rockefeller Global Lanka Asset Management Managing Director Channa de Silva said the Government not imposing a capital gains tax, but increasing the current Cess by 0.1 percent is very favourably regarded. It further strengthens as tax constraints certain to the unit trust industry has been removed.

CdeS