Sri Lanka Economy

President Mahinda Rajapaksa led UPFA secured an overwhelming mandate at yesterday’s Local Government Election-2011, obtaining power of 205 local bodies from 234 in which elections were held.

Sue thing good times a head ...stability is good

You are right. Hopfully Invester confidence will further improved. Can expect more investors both local and foreign would turn to CSE.

could it be the last two days part of the campaign
as soon as voting ended it's over
if market up people would be happy
now food, fuel prices

No way, we could not expect foreign buyers; any Government will buy also local buyers run the market.

With the Expecting economy favorable budget, which companies will benifited ?

Banking and Finance (HNB ,SAMP,NTB, LFIN ,CFIN,VFIN,CDB,)
RCL
LWL
CERA

most probably Exports oriented companies ...!

PLANTATION SECTOR....???

Rubber and tea

NO NO NO

MR favorable budget.

man goda yana budget ekak.

A kiyanne kama budget ekak. "Badata sahanaya"

Hope subsidies will be given for;
- Manufacturing
- Hotels and travels
- Plantation
-Bank and Finance
-Construction

Little on:
- Footwear/textile and Information technology

And; Beverage, food and tobacco.. ( cannot say + /- )

NC wrote:Hope subsidies will be given for;
- Manufacturing
- Hotels and travels
- Plantation
-Bank and Finance
-Construction

Little on:
- Footwear/textile and Information technology

And; Beverage, food and tobacco.. ( cannot say + /- )

Machang NC

no no no

You have given a general comment.That is easy guess.

RPPA wrote:

NC wrote:Hope subsidies will be given for;
- Manufacturing
- Hotels and travels
- Plantation
-Bank and Finance
-Construction

Little on:
- Footwear/textile and Information technology

And; Beverage, food and tobacco.. ( cannot say + /- )

Machang NC

no no no

You have given a general comment.That is easy guess.

Thats Mahinda Chinthanaya...
This budget will be more target on Presidential election... That's the point of view we should look at...

May be support for poultry, tea, rural development, value added products, and Indigenous-Medicine.

How about the Motor Sector ? Will Announce any Tax reductions?
Also, any good news for Food sector companies.
Then, Think Hotels sector.
I think some Manufacturing companies also will have benefits.

"The government says it focused on a Medium Term Budgetary Framework 2015 - 2017 mainly to ensure development by creating more livelihood and employment opportunities, food security, energy security and environmental safety with particular emphasis on low income and poor families."

http://www.colombopage.com/archive_14B/Oct23_1414043285CH.php

VALUEPICK wrote:May be support for poultry, tea, rural development, value added products, and Indigenous-Medicine.

I like your picks. Bit different to others.

EPS wrote:How about the Motor Sector ? Will Announce any Tax reductions?
Also, any good news for Food sector companies.
Then, Think Hotels sector.
I think some Manufacturing companies also will have benefits.

I don't think this budget will more care on motors except construction vehicles/machines. However, tax increase of Hybrid vehicles could be expected (rumor)....
Lets see...

Proposed taxes

n15 per cent salary hike as an allowance subjected to a maximum of
Rs. 2500 for public sector employees and raising subsidies for agriculture.
n10-25 per cent increase in taxes on imported liquor, tobacco, the
annual licence for motor vehicles, the Nation Building Tax and Value Added
Tax (VAT) for purchases in supermarkets, malls, hotels and restaurants.
nTo protect local manufacturers, taxes on imported leather, plastic,
metal, steel products, furniture, pharmaceuticals, biscuits, chocolates,
confectioneries, apparel and textile will be increased.
Most of these financial and budgetary proposals will be included in
annexures but not in the budget speech, a senior government official said.

http://www.sundaytimes.lk/141005/business-times/2015-sri-lankan-budget-bag-full-of-election-goodies-120454.html

http://www.parliament.lk/files/pdf/budget/2015/appropriation_2015_bill.pdf

EPS wrote:Proposed taxes

n15 per cent salary hike as an allowance subjected to a maximum of
Rs. 2500 for public sector employees and raising subsidies for agriculture.
n10-25 per cent increase in taxes on imported liquor, tobacco, the
annual licence for motor vehicles, the Nation Building Tax and Value Added
Tax (VAT) for purchases in supermarkets, malls, hotels and restaurants.
nTo protect local manufacturers, taxes on imported leather, plastic,
metal, steel products, furniture, pharmaceuticals, biscuits, chocolates,
confectioneries, apparel and textile will be increased.
Most of these financial and budgetary proposals will be included in
annexures but not in the budget speech, a senior government official said.

http://www.sundaytimes.lk/141005/business-times/2015-sri-lankan-budget-bag-full-of-election-goodies-120454.html

the following tax increases are totally unfair according to my view;
- Tobacco; Most labours highly depend on tobacco, and they cannot give up it all. How much is there daily earning...? and how much they spend on cigars...?
- Annual licence for motor vehicles; Dual purpose (DP) and heavy vehicles (HV) renwal fees're even now at a high. But, luxury and semi-luxury taxes are comparatively low. Those DP and HV either, transport cargo either passengers. So, what happens transport cost of those..? This's not the way that a Gov. should look at low income people..
- Pharmaceuticals; How much of drugs are manufactured in local, the SPC, GSK.. ? 200 products, and its over all 15% of market. 85% are imported. And, many patients are reluctant to use local products bcz of quality and all... What'll happen to patients? Many medicines're life long or long term therapy...
I wonder these, taxes are to protect the manufactures or to protect the government....

NC wrote:

RPPA wrote:

NC wrote:Hope subsidies will be given for;
- Manufacturing
- Hotels and travels
- Plantation
-Bank and Finance
-Construction

Little on:
- Footwear/textile and Information technology

And; Beverage, food and tobacco.. ( cannot say + /- )

Machang NC

no no no

You have given a general comment.That is easy guess.

Thats Mahinda Chinthanaya...
This budget will be more target on Presidential election... That's the point of view we should look at...

I agree with you...

EPS wrote:With the Expecting economy favorable budget, which companies will benifited ?

TKYO

Corporate taxes will be increased?government servants get salary increment .due to presidential election people will be given more consessions at the expenses of private sector.to be honest this budget will not be a good one for private sector.

Main objective of the budget to increase vote base not to improve economy.