Major Projects – Sri Lanka Budget 2016

Ministry of Buddha Sasana

Sacred Area Developments – 100mn – Construction of 100 temples. Renovation of 33 temples.
Vidyalankara International Buddhist Center-Kelaniya – 300mn – Completion of the conference hall.
Redevelopment of under devloped Dhamma Schools – 100mn – Plan to develop 500 Dhamma schools in 2016. Allocated Rs. 200,000 for each Dhamma school.
Renovation of Places of Worship damaged due to the earthquake in Nepal – 50mn – Renovation of the Ananda Kuti Buddhist temple & Hindu Kovil in Machchindranath (2015 – 2017).
Rehabilitation of Under-developed Buddhist Temples – 90mn – Rehabilitation of 600 temples.

Ministry of Finance
Continue reading “Major Projects – Sri Lanka Budget 2016”

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Common pension scheme for Sri Lanka

All elderly in Sri Lanka should have access to at least one reliable, affordable and adequate pension, economists said. “An adequate pension is essential to ensure income security for elderly, without being dependent,” Nisha Arunatilake of Institute of Policy Studies of Sri Lanka said. She was speaking at the National Pensioners Day Symposium themed “Towards a National Pension Framework.”

Highlighting the problems within the pension system she said 87 percent of the population between the ages of 15 and 59 are not covered by a pension scheme, and only 30 percent of the population above the age of 60 get a meaningful pension. The system in the island should be Continue reading “Common pension scheme for Sri Lanka”

Sri Lanka Budget 2016 – Review

Sri Lanka’s Budget proposals for the next year presented in parliament by the Minister of Finance Ravi Karunanayake has proposed several concessions to the public and industries.

“The progressive tax rates applicable to individuals will be removed by increasing the tax free allowance to Rs 2.4 million per year (Rs 200,000/- per month) and any balance will be liable at the standard rate of 15% (flat rate)”

Review –  Continue reading “Sri Lanka Budget 2016 – Review”