UNF abolishes war levy

[TamilNet, Friday, 22 March 2002, 20:23 GMT]
budget_choksy_220202.jpg
Sri Lanka's Finance Minister, Mr.K.N.Choksy opening the budget box in parliament, Friday.
The United National Front (UNF) government in its maiden budget presented in parliament Friday said the National Security Levy (NSL) and the Goods and Services Tax (GST) would be abolished from 1 June. The defence levy of 6.95 percent on all goods and services that was imposed by President Kumaratunga's government to finance the war on the Liberation Tigers has been blamed for the rapid rise of the cost of living in Sri Lanka.


"The NSL Value Added Tax (VAT) would be introduced instead of GST and NSL," Finance Minister, Mr. K. N.Choksy, said when outlining the main objective and the policies of the UNF government for the current fiscal year.

He said that this year budget has laid foundation for the budgets of the future years.

budget_choksy_1_220202.jpg
Sri Lanka's Finance Minister, Mr.K.N.Choksy outlining the main objective and the policies of the UNF government for the current fiscal year.
Mr. Choksy further stated that in the sphere of economic development, the country would be divided in to five economic zones. Each region would be entrusted to separate Economic Commission.

He said, "the policy of the government is to ensure the State media to act impartially. In this connection measures would be taken to bring down the price of newsprint."

"The aim of the government is to reduce the budget deficit to 8.5 percent of the Gross National Product (GNP). Earlier the deficit was 10.8 percent of the GNP.

The government also targets to reduce the State's debt to bring down the inflation rate to 9 percent which remains at 14.2 percent," said the Finance Minister Mr.Choksy.

Selected areas in the country would be brought under Tourist Development Centres to develop tourist industry, said Mr.Choksy.

budget_ranil_220202.jpg
Prime minister Ranil Wickremasinghe (left) and minister V.J.M.Lokubandera listening to budget speech in parliament Friday.
When the Finance Minister rose to present his maiden budget Friday afternoon, parliamentarians of the main opposition People's Alliance and the Marxist Janatha Vimukthi Peramuna staged a protest in the well of the house shouting that the government had won local elections through thuggery and intimidation. Opposition parliamentarians were seen holding placards.

 

Latest 15 Reports
18.07.17 23:28  
Continuous street protest brings lung disease, trauma to Keappaa-pulavu families
17.07.17 17:27  
SL Minister Bathiudeen escalates disunity between Tamils, Muslims in Mullaiththeevu
16.07.17 13:45  
Colombo rushes ahead with moves to release trawlers confiscated from Indian poachers
15.07.17 23:47   Photo
SL Police sustains impunity for crimes of structural genocide in North-East
14.07.17 09:37  
Occupying Colombo attempts to hamper investigation on Kudaththanai murder by SL police
13.07.17 16:19  
Colombo sustains Sinhala colonisation in Southwest Batticaloa
12.07.17 15:05  
SL ‘national intelligence’ deployed to harass Tamil activists voicing for resettlement in Ampaa'rai
11.07.17 06:08   Photo
STF deployed escalating tension in Vadamaraadchi after civilian shot and killed by SL Police
10.07.17 13:07  
Mayiliddi people will not succumb to SL military resettlement farce: Subramaniyam
09.07.17 23:27   Photo
Tamil youth in UK protest against BJP-triggered detention of Thirumurugan Gandhi
08.07.17 11:10   Photo
Muslims next target of demographic, structural genocide in northern Trincomalee
07.07.17 08:47   Photo
Redefining modernity as alternative to extractivist Capitalism: Houtart in 2016
06.07.17 14:38  
SL Police officer grabs 10 acres of lands at Kokkaddi in Champoor
05.07.17 20:47   Photo
Indian mission in Jaffna entertains Sinhala monk engaged in controversial Vihara project
04.07.17 23:31   Photo
Understanding ‘Quisling politics’ and facing it with ‘Navaratnam School of Thought’
 
Find this article at:
http://www.tamilnet.com/art.html?catid=13&artid=6789