2018 Budget proposals

2018 Budget proposals

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All vehicles in the country will have to be eco-friendly by the year 2040
All state-owned vehicles will be hybrid vehicles by 2025
Levy for fuel vehicles will be reformed and import taxes for electrical vehicles will be reduced.
Levy on luxury vehicles will increase by 2.5 million rupees.
Levy on electric vehicles will decrease by one million rupees
Special levies on luxury vehicles with engines more than 2500cc.
Electrical Three wheelers will have a 90 percent concession from the government
We will not allow vehicles that don’t have air bags to be imported.
We will make more electrical charging stations.
We will introduce a carbon tax. Motor cycles (17 cents), cars (Rs.1.78), bus (Rs. 2.74), daily tax for vehicles that are brand new.
A 10 rupee production tax for a kilogramme of polythene
We have allocated 75 billion rupees for loans to produce environmentally friendly items.
We are looking at expanding programmes which are concentrated on flooding in urban areas. We will construct several reservoirs to stop the flooding of urban areas.
We will introduce environmental friendly programmes when dumping in the Kelani River.
1,500 million rupees will be allocated to establish green areas in each Pradeshiya Saba areas.
We have not forgotten about the animals in this budget. Therefore, we are looking at converting zoos in an open zoo concept. We have allocated 75 billion rupees for this.
Coastal area from Mount Lavinia to Ratmalana will be renovated. 400 million rupees is allocated for this purpose. A bund will be built to ensure the environment in the area is protected.
There are 50,000 cell phone towers across the country, remaking this is discouraged and we will enforce a tax of 2 rupee per call for a minute for these towers.
25 million rupees is allocated to establish a Virtual Blue-Green Institute.
1,000 million rupees is allocated for clearing small and middle size tanks.
Government plans an insurance system for five agricultural products, which will insure an acre for Rs. 40,000. 3,000 million rupees is allocated for this project.
Government will remove taxes which will import machinery for green houses.
Self-employed, three wheelers, startups, we will provide through ‘Enterprise Sri Lanka’.
10,000 million rupees will be allocated to establish a bank specially to provide loans to small and medium enterprises.
750 million rupees has been allocated to provide relief for interest payments.
In a bid to ensure women entrepreneurs have the necessary backing, the Government will give them a tax relief of 10 percent more than is already promised.
All necessary backing will be provided in a bid to encourage disabled persons in entrepreneurship.
The IT sector have the potential to reach five billion rupees in the next years. We will invest three billion rupees in the next few years for local startups and to bring in foreign startups.
Colombo, Moratuwa universities and SLIIT will conduct courses on robotics, etc. The cost of these will be shared between the industry and the initiators.
The testing facilities at the Standard Institute will be upgraded to international level allocating 250 million rupees.
The spices of the country have a competitive edge in the international market. We will introduce new laws to ensure international standards are met, especially in the cinnamon and pepper industries. 50 million rupees is allocated for this purpose.
250 million rupees is set aside for the tea industry.
We will introduce new regulations for coconut and coconut industries. We have allocated Rs. 25 million for the coconut research institute.
Poultry industry- underutilized state lands will be provided to the local poultry industry.
125 million rupees is allocated to establish a poultry research center at the Wayamba University.
Gem industry- Nation Building Tax on gems that were cut and polished would be removed.
25 million rupees is allocated to establish a center for timber research center.
The liquor licensing structure will be revamped.
250 million rupees will be allocated to develop six ports in Matara, Hambantota, fort Fredrick, etc.
The Sri Lanka Tourism Development Authority will establish 25 life guard stations.
Import tax on off road electric vehicles will be reduced.
VAT refund scheme for foreign passport holders will be implemented in airports.
A programme to introduce Tourist Board approved tuk tuks will be established and the drivers will be trained as local guides. These classes will be held free of charge.
Meters will be made compulsory for three wheelers through the Three- wheeler regulatory authority which will be established soon.
Mahawatta, Pitipana Park to cater bio farmer sector will be established with a 100 million rupee fund.
Regardless of education background, to encourage the youth to give equal opportunities based on their skills they need to establish universities to the international level. We have to give them courses that target the existing markets. It is proposed to establish programmes which will ready students as needed by local markets which are 3- 6 months long and I will allocate 2,500 million rupees.
2,000 million rupees will be allocated for the youth corps programmes.
Five technical colleges will be established in five locations.
325 billion rupees has been allocated for the youth of the country. Student insurance and tablets for students is a promise that we are fulfilling now.
We are looking for increasing the number of students in the medical, engineering, etc. We have allocated 3,500 million rupees for this purpose.
We will establish a center at the Maharagama teacher training center to train English Language teachers.
Payment of 3,500 rupees to students in national colleges will be increased to 5,000 rupees
Rs. 1,250 million will be allocated to establish medical faculties at Wayamba, Sabaragamuwa and Moratuwa.
IT faculties will also be established in 7 universities. A faculty for marine education will be established at the Ruhuna University and we have allocated Rs. 250 million for this.
Sugathadasa Stadium will be redeveloped and we have allocated Rs. 100 million for this.
We have already allocated Rs. 200 million for the health sector. Three kidney centers will be established in Polonnaruwa, Anuradhapura and Jaffna.
Soft drinks which induce obesity and diabetes will have a tax of .50 cents from tonight.
Nations Building Trust will be levied on liquor from April 1, 2018.
Low income families will be provided 20,000 housing units by 2020. We will allocate 17,500 million rupees to construct them.
3,000 million rupees will be allocated to build housing units in the North and East provinces.
2,000 million is set aside to construct 25,000 housing units for those in line houses.
10,000 million rupees allocated to provide infrastructure facilities to construct expressways.
4,000 million rupees allocated to renovate roads damaged by floods.
500 million rupees is allocated to establish a police academy.
BOC and the People’s Bank will be allowed to raise more debt. Five billion rupees will be infused as equity to BOC.
50 million is allocated to establish a Buddhist library.
Medical and Emergency Insurance will be established for artistes.
Retirees after 2016 will get ‘Agrahara’ cover throughout their life time.
Levies for vehicles imported for government servants will remain.
Low interest loan scheme for those in debt in the North and North Central Province
Small industries in the North Province will be supported and we have allocated Rs. 1 billion for this.
Rs. 2.5 million allocated to Muslims displaced from the North. This will include the rehabilitation of Mannar town and Silawathura.
License will be provided to import cigarettes and cigars.
Rs. 15 tax for inconsumable liquor such as ethanol from tonight.