Thursday, November 6, 2008

Fuel Prices , Vat Tax Are Decreased - Salaries And Allowances Of the State Employees Increased From The Budget

Fuel Prices and VAT Tax Decreased,and Salaries of the Government Employees Increased From the Budget Proposals Presented to the Parliment By Sri Lankan President and Finance Minister Mahinda Rajapaksha Yesterday(06).Under the Budget Proposals Prices of Diesel Litre Reduced by Rs.30,Petrol Litre by Rs.15 and Kerosene Oil by Rs.20.Salaries of the Government Employees increased by Rs.1000, VAT Tax Imposed on Imported Goods Decreased from 15 Percent to 12 Percent but the Cess Tax Imposed on Imported Chocolates and Biscuits Increased from 50 Percent.
The Festival Advance Paid to the Government Employees Increased from Rs.2000 to Rs.5000,the Infants of the Low Incoming Families to Receive Monthly Allowance of Rs.200 , the Cost Of Living Allowance of the Retired Employees increased from Rs.560 and the same Allowance of Present Employees is increasing Rs 1000 to Rs.4500.
The Monthly Allowance Paid to the Security Personal Deployed in the Battle Front also Increased from Rs.3000 to Rs.5000 and Rs 3000 Million Allocated for the Rehabilitation of LTTE Terrorists under this years Budget.New Nation Building Tax of 1 Percent Introduced from the Budget.
The Budget Deficit Stands as Rs.337 Billion.Most Analysts said that to Bridge the Gap of the Budget Deficit Sri Lanka have to rely on Foreign Borrowings and the Debt Interest will Increase if not Implementing a Proper Policy when Re paying the Debt.

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