Budget 2015 defines policy framework
Budget 2015 is not merely a set of proposals for
a year, but the Government's policy direction for the next five
years 2015-2020, Deputy Secretary to the Treasury, Dr. B.M.S.
Batagoda told a post-Budget seminar organised by the Institute of
Chartered Management Accounts (CMA) in Colombo last week.
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Govt targets FDI worth US $ 5b by 2016
The Government hopes to attract Foreign Direct
Investments (FDI) worth US$ 5 billion by 2016. The target can be met
through hard work. However, Sri Lanka will definitely receive FDIs
worth US$ 4 billion by 2016,
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Doing business index:
SL's position improving in relative and absolute terms - CB
Despite slipping in the World Bank's Ease of
Doing Business index by nine points, the Central Bank (CB) in a
statement last week said that Sri Lanka's ranking in the Doing
Business Index has improved in relative and absolute terms.
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'Focus on plantation sector growth vital’
The business community has hailed the 2015
Budget as a business-friendly and development-oriented that sets the
stage for accelerated economic growth and boost the quality of life
of low-income families. However, there are reservations on the lack
of focus on certain sections such as the plantations which have not
received the attention of policy,
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'Rubber producers must combine efforts to face crisis'
The present global rubber market scenario is
gloomy with oversupply, but in terms of the future, five to 10 years
ahead, it will be much better with increased demand, low supply
forecast and better prices, Chairman, Global Rubber Confab (GRC),
Dr. Abdul Aziz told the fourth GRC in Colombo last week.
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ETF goes on-line
Contributors to the Employees’ Trust Fund (ETF)
could check their balance statements and furnish their claim
applications to the ETF Board through the internet and mobile
phones, a facility launched by the ETF Board with the Information
Communication Technology Agency (ICTA).
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India bans first-class air travel for officials
The Indian government has banned first class air
travel for bureaucrats, meetings in five-star hotels and purchases
of cars in a series of tough austerity measures. The moves are aimed
at achieving a fiscal deficit target of 4.1% of the gross domestic
product for this year. India's economy has slowed in recent years,
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