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| Sunday, 19 September 2004 |
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Pay hikes facet of November Budget Heavy investments in infrastucture, pay hikes to government servants, incentives for SME's are the highlights of the maiden Budget to be presented by the UPFA government in November. According to Treasury sources the budget does not propose any reduction in the subsidies being provided to the masses at present. Government has allocated a massive sum of money for investment in infra structure and rural development, Treasury sources revealed. The money will be spent to improve the condition of roads, reconstruction of tanks and irrigation systems, generation of power and the telecommunication sectors. The sources said that investments will be made to add hydro and coal power plants to the national grid as well as in the area of electricity distribution aimed at rural electrification and telecommunication sectors. Government capital expenditure will also be increased in the fields of health and education. The Budget will also propose a salary increase for all government servants, sources said. The amount to be increased was decided to match the increased cost of living. In deciding the salary increase the government has considered the pledge given by the UPFA in its policy statement as well as the demand of the trade unions. The Budget proposes a range of incentives to develop Small amd Medium Enterprises (SMEs) and development of the rural sector. A banking system will be set up to provide low-interest, easy payment loan scheme to SMEs. Rural infrastructure developmment is the main area that the Budget proposes to invest in. The Budget will not propose any contraction of subsidies provided at present. Money will be allocated to continue Samurdhi and fertilser subsidies. GKW |
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