President Rajapaksha Announced 5 Percent Inter Allowance And Rs.600 COL Increase For Govt.Servents From Budget

President Mahinda Rajapaksha presented the Sri Lankan Government's 2011 Budget Proposals to Parliament as finance minister and announced a 5 percent inter allowance (non pensionable) and 600 Rupees increase of Cost of Living Allowance for the Public Sector Employees with effect from January Next Year.All Pensioners also received Rs.300 increment from next year he said.

Under the new inter allowance some employees in Government Sector will entitled around Rs.3500 Salary Increase President stressed.President also said that the Salary Anomalies prevails in Government Sector will be solved with effective measures.

According the Budget Proposals 10,000 Unemployed Graduates will received employment in the Public Sector Banks from next year and 1500 Graduates will recruited to State Banks and Financial Institutions as Management Trainees.

A new Pension Scheme is introduced for the Private Sector Employees with 2 percent each contribution from Employer and the Employee as well as another 2 percent contribution from the Employers Provident Fund(EPF).