Upbeat budget speech foresees rapid economic development

[TamilNet, Wednesday, 06 November 2002, 18:14 GMT]
The Sri Lanka's Finance Minister Wednesday presented the second budget of the ruling United National Front government in parliament that emphasized on generating employment and developing the rural sector. "With the support expected from development partners in Oslo and Tokyo the UNF government will launch a number of new projects next year for the creating a number of productive employment opportunities," said Finance Minister Mr.K.N.Choksy when delivering his budget address.


Budget 2002.
Sri Lanka's Finance Minister, Mr.K.N.Choksy entering the parliament with the budget box, 6 November 2002.
"The UNF government has an agenda of reforms to implement over the next twelve months. The Economic Management Law would be introduced in parliament to ensure full implementation of the economic reforms. Under the said law the government has to report to parliament twice a year the progress made by each ministry in implementing economic reforms," said Mr.K.N.Choksy.

Regarding the increase of the salary of public servants, the Finance Minister said that the report of the Tissa Devendra Salaries Commission should be studied by parliament before taking a decision whether to implement it or not. The Tissa Devendra report had recommended a wage increase and also thirty percent reduction in the cadre of public servants. The report has not properly addressed the impact of unemployment by such large scale staff reduction, he said.

"Budget deficit should be reduced and under utilized State owned commercial assets would be sold to overcome the debt crisis. The UNF government has succeeded in increasing the growth rate of last year negative figure to an estimated positive 3 % of the GDP in 2002. The rate of inflation has been reduced from 14.2% to 9 %," said Mr.Choksy.


Budget 2002.
Sri Lanka's Finance Minister, Mr.K.N.Choksy (right), presenting the budget in the parliament, Wednesday.

 

Latest 15 Reports
15.10.19 23:50  
Colombo destroys dairy-farming economy of Eezham Tamils in Batticaloa
14.10.19 23:48   Photo
Tamil parties in North-East stipulate ‘acid test’ terms to SL presidential candidates
13.10.19 22:15   Photo
SL Governor's latest land grab poses danger to archaeological traces of Eezham Tamils
12.10.19 22:23   Photo
Monks step up campaign against Muslims, want to carve out Sinhala colony in Ampaa'rai
11.10.19 22:07   Photo
Vote for Self-Determination, reject major candidates for more effective boycott
10.10.19 23:31   Photo
SL Police intensifies restrictions on Saiva devotees at disputed ‘chaitya’ hilltop in East
09.10.19 20:17  
Indian Coast Guard trespassed into waters off Jaffna, 18 fishers detained since 03 October
08.10.19 18:43  
Divisional Secretary, TNA MPs must act to release Chegnchoalai lands: civil activist
07.10.19 23:12   Photo
Heinous act by HRCSL: former orphans of Chegnchoalai on the brink of losing lands
06.10.19 12:21  
EPDP joins Jaffna protest against desecration of Neeraaviyadi temple
05.10.19 22:06  
Families inheriting lands from parents refused of land registration in Moothoor East
04.10.19 21:50  
SL Archaeology, Police continue to disturb Tamils’ right to worship at Vedukku-naa'ri hilltop
03.10.19 19:16  
Raghavan plans to distribute uncultivatable lands to Tamils to compensate for loss of fertile lands
02.10.19 22:28   Photo
No place for human rights in China’s white paper for future world
01.10.19 18:26  
Genocidal Sri Lanka hits back at UN, claims it passed ‘litmus test’ on human rights in 2019
 
Find this article at:
http://www.tamilnet.com/art.html?catid=13&artid=7778