• Last Update 2024-03-29 09:48:00
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LIVE BLOG: Budget 2024

  • 01:57 pm

The President winds up his budget speech. No revenue proposals were read out.


  • 01:56 pm

Projects like Galoya were carried out with our own funds. Back then, we event lent to the UK.


  • 01:54 pm

If this country slips back to another economic crisis, no one would help up. We will become like Lebanon.


  • 01:52 pm

Food security: Allocation of Rs. 250 million


  • 01:51 pm

600 acres allocated for Climate Change University


  • 01:50 pm

Tourism: More funds to attract visitors across Sri Lanka.

Pinnawela and Galgamuwa  tourist zones Rs 750 million


  • 01:48 pm

Rs. 11 billion for National Research Institute.


  • 01:47 pm

Sri Lanka's digital identity process to be completed next year.


  • 01:47 pm

Digital Authority to be set up


  • 01:46 pm

Trade 'ease' Committee to be set up.


  • 01:46 pm

National Productivity Commssion to be set up.


  • 01:45 pm

Hambantota, Bingiriya and Jaffna investment zones to be established.


  • 01:43 pm

A single digitalised platform to be created at Customs at a cost of Rs. 200 million


  • 01:42 pm

Customs regulations to be updated.


  • 01:42 pm

Digital documentation in state sector to be completed.


  • 01:41 pm

FTA s soo with Thailand and Indonesia


  • 01:40 pm

Removal of cess charged at ports and airport for three years.


  • 01:39 pm

Setting up a Revenue Authority in an effort to increase revenue


  • 01:39 pm

Oversight Committee to be appointed on governance diagnostic by IMF


  • 01:36 pm

New Land Act to replace archaic laws.


  • 01:36 pm

60 new laws for financial management to be introduced to replace archaic laws.


  • 01:35 pm

Borrowing limit increased to Rs, 7,350 billion.


  • 01:34 pm

Banking Act regulations to be established next year.


  • 01:33 pm

test


  • 01:32 pm

To recapitalise banks -- depositors entitled to buy 20 per cent of shares in state banks.
After this, outsiders can also buy stakes


  • 01:31 pm

Debt restructuring advanced with external debt restructuring underway.
New instruments connected to the US dollar will need be issued to restructure external debt.


  • 01:29 pm

Trincomalee development: Coastal, port, agriculture and tourism development with Presidential Committee to be appointed for this purpose.


  • 01:27 pm

Station plazas (like shops) to be set up on railway stations


  • 01:26 pm

Rs. 2.6 billion allocation to develop Hingurakgoda International Airport.


  • 01:22 pm

Rs. 1.2 billion for school cricket development.


  • 01:21 pm

Transport - Motor Traffic Departmenr to be digitised.


  • 01:20 pm

To make Sri Lanka a centre for Buddhist Culture, the Kandy Buddhist Cultural Museum to be set up with Rs. 200 million.


  • 01:19 pm

Bandarawela Economic zone to be developed - Rs. 250 million.


  • 01:18 pm

Drinking water issues in Jaffna to be rectified through new project. Rs. 250 million allocation.
Allocation of Rs. 500 million for Pooneryn development.


  • 01:17 pm

Missing persons claims to be completed soon.
 


  • 01:15 pm

Displaced and disaster relief in the north - allocation of Rs. 2.5 million


  • 01:15 pm

Women empowerment in the workplace to be established with new laws.
Rs. 300 million to uplift women entrepreneuers.


  • 01:12 pm

Comstruction: Owing to the economic criss this sector has been performing poorly.  Provision for construction of new buildings on state land and securing rent from these properties.


  • 01:09 pm

Increase in milk production daily to 20 million litres from a current 4 million litres.


  • 01:07 pm

Rs. 500 million to develop fisheries in the North.


  • 01:07 pm

Laws to be introduced to allow lands not use for paddy cultivation to be used for other crops.


  • 01:05 pm

Agriculture development --- allocation of Rs. 2.5 billion.


  • 01:04 pm

Ayurvedic products much sought after by foreigners. Helping hotels to set up ayurvedic/holistic units.


  • 01:02 pm

Badulla Hospital gets heart and lung unit at a cost of Rs.300 million.


  • 01:01 pm

Rs. 75 million allocation for the Medical Research Institute.


  • 01:00 pm

English for all by 2034. Rs. 500 million allocated


  • 12:59 pm

Rs, 750 million allocation to train and develop more ICT workers in different sectors


  • 12:58 pm

Student loan scheme to be introduced to be paid back when they enter the workforce.


  • 12:57 pm

Universities at Colombo, Kelaniya and Moratuwa to be expanded to accommodate more studentts.
Open the space for foreign universities here to encourage more foreign students.


  • 12:55 pm

New Techinical University in Kandy for IT with help from India's IIT.


  • 12:54 pm

Four new universities - NSBM, SLITT, Horizon and Royal Institute.
Allow Provincial councils to set up universities.


  • 12:50 pm

Rs. 1o billion to restore rural roads.


  • 12:49 pm

A new unit for development to be set up.


  • 12:47 pm

Rs. 10 million allocated for development of mountainous areas.


  • 12:45 pm

Estate workers: Land ownership ---full title to be given to estate workers.


  • 12:44 pm

50,000 families to be eligible for full ownership of houses.


  • 12:42 pm

600,000 families will be given paddy land ownership.


  • 12:40 pm

Millions of rupees in aid from ADB for SMEs.. Total allocation Rs. 50 billion. 


  • 12:39 pm

20 per cent of SMEs had to close due to the crisis


  • 12:37 pm

Rs. 7,500 for kidney patients from Rs.5,000 earlier.


  • 12:36 pm

Cost of Liviing allowance increase by Rs. 17,800 fron January 2024.


  • 12:35 pm

Pensions increased by Rs.2,500 (per month)


  • 12:32 pm

This is a budget for the future and a win-win for  the country.


  • 12:31 pm

Public sector - 1.3 million employed with an increase in the welfare payments to Rs.17,800 from Rs.7,800


  • 12:30 pm

Primary balance surplus achieved this year


  • 12:29 pm

After last year's crisis, today the people are provided with essentials witout any issue


  • 12:28 pm

State assets should be put to good use so that  they don't burden the state
 


  • 12:26 pm

35% of public sector funds are allocated for salaries.


  • 12:26 pm

35% of public sector funds are allocated for salaries.


  • 12:26 pm

We hope to establish a university in Nuwara Eliya.


  • 12:25 pm

Restructuring loss making SOEs, reducing unnecessary state spending  and stop pilfering state assets are on track.


  • 12:23 pm

State spending will reduce taxes, people say, but a lot of the taxes go to upkeep the government sector.


  • 12:22 pm

New Banking Act prohibits printing money.
 


  • 12:20 pm

Unable to achieve tax revenue targets
 


  • 12:18 pm

To sustain the two state banks, we need to protect people's money.


  • 12:18 pm

Difficult times are not over yet.


  • 12:17 pm

Cannot increase salaries in an ad hoc manneer. To increase wages we need funds from overseas or print money.


  • 12:16 pm

CPC debts were handled by the two state banks.


  • 12:12 pm

Managed to get the economy back on track after being in the doldrums.
Election promises dragged the country from moving forward
The country's economy is better than what it was one year ago. Many sacrifices were made during this journey.


  • 12:06 pm

The President details out the challenges that the country faced last year with fuel queues and a collapse in the economy.


  • 12:03 pm

President Ranil  Wickremesinghe presents the 2024 budget.


  • 11:35 am


President Ranil Wickremesinghe, as the Minister of Finance, is due to present Budget 2024 at 12 noon on Monday, November 13, 2023.


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