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    Modern technology based industries are necessary for the development of the country

    November 27, 2015

    The Minister of Justice and Buddhasasana Wijayadasa Rajapakshe speaking in Parliament Thursday said the new budget has been presented to build up the local economy and the modern technology based industries are necessary for the development of the country.


    Some have criticised the budget saying that it has only loans, taxes and fines.  Is there a country in the world where a budget has been presented without loans, taxes and fines.  If there are any shortcomings in the budget we are ready to correct them, he said.

     

    One of the key appearances of this budget is the increase of  non-tax revenues in three fold which is a positive situation for a developing country, the Minister added.
     


    In the year 2015m a massive sum of 98 billion rupees was allocated for education and health sectors, while 419 billion rupees was allocated for infrastructure facilities.  For the year 2016,   allocations for education and health sectors have been increased up to 216 billion rupees  and 658 billion rupees for infrastructure facilities.

     

    We have given tax concessions up to 70% to the middle class.  The new budget has been presented to build up the local economy and the modern technology based industries are necessary for the development of the country.

     
    He further pointed out that the government has no plan to privatize the universities. But the private universities are essential to the country as it brings a huge income to the country, he said.

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