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PRESIDENT DELIVERS BUDGET PROPOSALS FOR 2013

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PRESIDENT PROPOSES INCREASED SPENDING ON EDUCATION

Government spending on the free education sector will not be undermined in any manner, the President assured in his Budget speech while proposing that government education expenditure for 2013 be increased by 15% in comparison to 2012.

The government spent Rs.150 billion on the free education system in 2012 which amounted to around 9% of government expenditure.
The President stated that the government contribution to free education could only be appreciated when comparing Sri Lanka to other countries.
The President proposed that Rs.306 billion be allocated for the Education sector which amounts to around 4.1% of the GDP.
Furthermore, the President proposed that a sum of Rs.900 million be allocated for teacher training to improve the primary education in the country.
An additional allocation of Rs.4000 million was proposed in order to enroll 5000 students to universities as per the Supreme Court order.

VEHICLES IMPORTED UNDER PERMITS TO FACE INCREASED TAX

Vehicles imported under permits will receive an increased tax of between 10% to 20%, the President stated in his budget proposals for the year 2013.

In view of promoting sporting tourism all vehicles used for racing sports will be exempt from import tax, the President said in his budget speech.

The President also proposed to increase fees on revenue license for vehicles from next year.

UNEMPLOYED PERSONS OVER 65 YEARS TO GET RS.5000 MONTHLY

Persons over 65 years without permanent income will be granted Rs.5000 monthly, the President proposed in his budget speech for 2013.

ALLOWANCE OF PUBLIC SECTOR EMPLOYEES INCREASED BY RS.1500

The allowance of the Public sector employees will be increased by Rs. 1500, President Mahinda Rajapaksa said a short while ago. Presenting the 2013 budget he added that this move was made to appreciate the great service rendered by the public sector.

READ FULL BUDGET SPEECH 

Source: Adaderana (Sri Lanka)