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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Interim Budget 2015 reading

Interim Budget 2015 reading

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1Interim Budget 2015 reading Empty Interim Budget 2015 reading Thu Jan 29, 2015 4:07 pm

NZ BOY

NZ BOY
Moderator
Moderator
: 40 - Interim Budget 2015 reading concluded

15: 39 - Prohibition imposed on Ministies and state institutions from publishing promotional newspapaper advertisements

15: 32 - Special committee to be set up ro resolve issues caused by irregular finance bodies within six months

15: 32 - Public transportation costs to reduce by 50% for senior citizens

15: 31 - Every citizen to have a bank account - can be opened in commercial banks with an initial deposit of Rs. 250

15: 28 : Sri lankan Airlines and Mihin Lanka to be merged to reduced the losses

15: 28 - Sri Lankan Airlines and Mihin Airlines have incurred heavy losses - within five years over Rs. 100 billion due to manangement inefficiencies/ Mihin Air Rs.15 billion during the past five years.

15: 26 - Dahami Diriya for Sunday school teachers - a monthly sum of Rs. 200 to be paid

15: 25 - Rs. 250 monthly allowance to be paid to pre-school teachers

15: 25 - Mahapola scholarship fee to be increased upto Rs. 5000

15:23 - Special facilities for disabled war heroes - special loan scheme named Viru Diriya to be introduced in state banks/ maximum borrowing Rs. 500,000

15:21 - Rs. 1.5 million permit fee will be charged from vehicle importers (irrelevant of whether the imported vehicles are brand new/reconditioned)

15:17 - The government has waived off the 25% tax paid by customers when reloading phones

15: 17 - Rs. 1000 million tax imposed on television stations dedicated to sports

15: 15- One time tax of Rs. 250 million to be paid by mobile phone operators

15: 15- One time tax of Rs. 250 million to be paid by telecommunication providers

15:14 - Marriage registration fee to be reduced up to Rs. 1000 from Rs. 5000

15: 12 - The number of liquor shops per proprietor to be reduced upto three / Liquor permit value to be increased by twofolds

15: 11 - Casino business-owners to pay Rs: 1000 millionas a tax - first payment to be made before April.

15: 07 - Extra Rs. 5000 million to be gained through a container scanning process with effect from September

15: 04 - Vehicle assembly plants have neglected their incometax payments during the previous regime. Rs. 12,0000 million revenue expected through prompt payments

15: 04 - Cement prices to be reduced by Rs. 99

15: 04 - Vehicle taxes reduction 15% for vehciles with engines below 1000 CC

15: 00 - Supergain tax - any company of which the profict exceeded Rs. 2000 million - tax amout worth 25% off its profit will be charged

14:58 - Mansion tax - Rs. 1 million per annum will be charged for houses of which the value is estimated at Rs. 100 million or exceeds 5000 sqft

14: 55 - Gold jewellery pawned to banks - that don't exceed Rs. 200,000 - interest will be waived off

14: 56- 12.5kg gas cylinder price reduced up to Rs. 1596 (Rs. 300 reduction)

14: 45 - 13 Essential goods price reduction by removal of taxes - with effect from midnight
Sugar: Rs. 10 reduction - tax reduced from Rs. 28 up to Rs. 10
Milk powder 400g packet will be Rs. 325 (maximum retail price) - reduction of Rs. 61
Sustagen milk powder to be reduced by Rs. 100 (400g)
Flour prices reduced by Rs. 12.50 per kilo
Bread - reduced by Rs. 6
Green grams - reduction by Rs. 40 per kilo
Sprats: Reduction of Rs. 15
Canned fish - Reduced by Rs. 60
Coriander - Reduced by Rs. 60 per kilo
Maldive fish - taxes reduced by Rs. 200
Canned fish - Reduced by Rs. 60
Coriander - Reduced by Rs. 60 per kilo
Chilli powder - Reduced by Rs. 25 (powdered)

14: 44 - School van fees reduced by 5%

14: 44 - Electricity consumers will be encouraged to use solar power

14: 42 - Kerosene reduced by another Rs. 6 per liter

14: 36 - A sum of Rs. 2000 billion to be allocated to the fund reserved for kidney patients

14: 38 - Budgetary allowance for education sector will be increased by 6% off the GDP systematically

14:33 - Decentralised budget for ministers will increase by Rs. 5 - 10 million

14: 31 - Fresh milk price buying price to be increased by Rs.10

14:30 - To improve agricultural sector, hand tractors will be given away at concessionary rates / fertilizer concession will be continued + the quality will be increased.

14:27 - 50% of the loan amounts borrowed by farmers to be waived off

14:25 - An allowance of Rs. 20,000 to be paid for expectant mothers

14:23 - Senior citizens with Rs. 1 million in their bank accounts to be given 15% interest rate


14:22 - Reviewing of pensions - Increase of Rs. 1000 with effect from April


14:19 - During past seven years 5000 million USD due to losing GSP+


14: 17 - Request made for private sector employers to increase the salaries of private sector employees Rs. 2500


14:14 - Rs. 2.5 billion saved by cutting down on the number of Ministers


14:11 - All loans taken during the past government has to be paid by this govenrment to which includes 15 million USD loan taken for security purposes


14:08 - Salaries of state sector servants incresed by Rs. 10,000 - Rs. 5000 will be given in February/ remaining Rs. 5000 in June- Thereby state sector employees' salaries increased by 47%


14:04 - We believe in uplifting and developing the lives of every citizen of this country - not just a selected few - Ravi K


14:03 - Expenses of presidential secretariat - 2014 Rs. 10,4970 million / estiamted cost for 2015 was Rs 95,930 million but it has been brought down to Rs. 2560 million


14:01 - True figure of state debts concealed by previous regime - currently it stands at Rs. 8.81 trillion


14:00 - True figure of debt per person is Rs. 427,220 - Minister Ravi K


13:58 - Minister Ravi K lists out details of financial losses incurred due to borrowings/developmental projects of the previous regime that has resulted in an added financial burden to the people


13:56 - Loss incurred by hedging deals is 60 million USD


13:33 - Reading of the 2015 interim budget by Finance Minister Ravi Karunanayake, begins.


13:31 - Decision made by Cabinet to prohibit the authorization given to establish casinos to several private companies


13:28 - Financial discipline in Sri Lanka brought to the lowest during the previous regime


13:22 - PM Ranil Wickramsinghe makes statement before parliament prior to the reading of the interim budget

http://www.dailymirror.lk/budget/62501

2Interim Budget 2015 reading Empty Re: Interim Budget 2015 reading Thu Jan 29, 2015 6:49 pm

VALUEPICK

VALUEPICK
Expert
Expert
Both Agriculture and food sector will have a growth. Consumers will buy more food items and some consumer discretionary items due to increased purchasing power and due to reduction of prices of some consumer items. Consumer staples and some consumer discretionary companies are the biggest winners. In addition, this interim budget has addressed other important areas such as farming, Tea and Rubber. Finally, lower gas and oil prices will benefit both consumers and many industries.

Some benefits to faming and plantation community.

“The Minister of Finance noted that they would continue to provide the fertilizer subsidy. The certified prices for tea, rubber as well as fresh milk were also increased through the interim budget’

It is good to see policy makers have some plans to develop the most important areas in the economy such as plantation, food and agriculture in Sri-Lanka. Therefore we can expect rally in plantation, food, agri and farming stocks in the future.

3Interim Budget 2015 reading Empty Re: Interim Budget 2015 reading Thu Jan 29, 2015 6:54 pm

nimantha80


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Mihin  is gone.what previous government did was pumping more money  to make more loses

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