Five hubs and tourism sector, the main thrust:

Lanka to reach $4,000 per capita income

By Sanjeevi Jayasuriya

The economic drive will be centred around the five hubs and the tourism sector as the main thrust to increase the per capita income to reach the target by 2016.Sri Lanka has set an ambitious target of achieving a $ 4,000 per capita income by 2016 and are many initiatives have been taken in this regard.

The key thrust will be on the five hubs and the tourism sector where a number of initiatives has been put in motion. Some are in the development stage, while others have already been implemented, Central Bank Governor Ajit Nivaard Cabraal told Sunday Observer Business.It is hard to maintain macro finances in a stable manner due to external and internal shocks.

However, we are confident of achieving success in the implementation process to ensure meeting the targets all the time, he said.

The two prime areas will be to improve the ranking in doing business and infrastructure development.

A lot of effort has been put into these fields to tide over the next few years.Emphasising on the development drive taking place at present, the Governor said that action also has been taken to protest traditional areas of the economy such as agriculture, apparel and other exports with a focus to increase the level of remittances and other contributions towards the external account. Poverty alleviation and regional development are given serious thought, including the SME sector. The Budget provided a significant impetus to the SME sector like never before.

This will help new entrepreneurs, while helping to maintain the sustainability of the economy, he said.