Budget, growth-oriented - Deputy Minister

by Uditha KUMARASINGHE

The Budget 2012 to be presented by President Mahinda Rajapaksa in Parliament on November 21 intends to provide a series of concessions to all sections which are connected to the production sector, Economic Development Deputy Minister Lakshman Yapa Abeywardene told the Sunday Observer yesterday.

The Deputy Minister said the Budget will also give concessions to develop the tourism industry.

It will also provide assistance to farmers to further develop their products and find markets. Special concessions will be given to raw materials which are imported to manufacture export based products and other locally manufactured products.

He said the Government through the Budget intends to create a conducive environment which would enable the country to exceed the limit of 10 percent economic growth within the next four years. Sri Lanka has already been able to achieve 8.2 percent economic growth.

The Budget 2012 will also lay the foundation to increase the current economic growth up to 10 percent and the per capita income to US$ 4000 within the next four years.

Commenting on demands made by the Opposition to increase the salaries of the public servants in keeping with the rising cost of living at the forthcoming Budget, the Deputy Minister said the Government has admitted the fact that the public servants have been facing the burden of the cost of living.

Therefore the forthcoming Budget will give the maximum possible pay hike which could be given to the public servants.