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Budget 2012 - Live Blogging

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Thank you for being with us and participating in Sri Lanka's first ever Live Blog on the Budget for 2012. The debate on the Second Reading of the budget is currently taking place.



16:18
The debate on the second reading of the budget will take place at 9.30am tomorrow.

16:17

The President concluded the presentation of his 2nd budget reading.

16:15

The President praised the unity of the opposition UNP, and stated “I saw a very good sign today, when Ranil Wickremasinghe told them to stand, they all stood up together. This is very good,” he said.

16:13
The Budget deficit in 2012 is forecasted to be 490 million or 6.2 per-cent of GDP. 

16:11

For government servants in the Executive Professions a ten per-cent increase in salaries is proposed; 5 per-cent in January and another 5 per cent in July. All government servants will receive a 10 per cent increase in salaries. 

16:00

The President stated that a through investigation of the spirits being produced by sugar plantations would be carried out.

15:39

The President paused for a moment in the reading of his budget speech, it seemed that he had lost his place in a very thick document.

15:35

The President says a decision has been taken to stop the sale of land to private entities for development and to only give the land for a lease of 99 years. If the land is not used for a specific purpose within the space of a year the lease will be revoked.

15:30

The exchange rate is to be depreciated by three per cent to improve exports of the country.

15:22

A number of members of the house seem to have their heads bowed and are breathing deeply, they are likely contemplating the positive reforms by the budget.

15:20

The President promises to ensure that Sri Lanka is made into a sports-hub, by allocating funds for the improvement of sports facilities, not just in the main cities but all over the island.

15:17

The President says “failing an exam is not failing life”. Therefore even if students are unsuccessful at the GCE Ordinary level examination, a number of options are open to them.

15:08

500 Million is to be allocated for healthcare improvement.

15:01

The President promises to make Sri Lanka a hub for the legal profession, in the same vein that he has promised to make the country a knowledge hub and the “Wonder of Asia”.

14: 57
He also promises that over 8000 families without electricity can hope to be “enlightened”, thanks to the coming budget.



14:55
The President is talking incessantly about the preservation and utilization of water resources. His plans for developing tourism and transport seem heavily depended on water resources.

14: 48

Revenue taxes for busses and Lorries remain unchanged.

14: 45
Looks like we can all hope to take up gardening in our free time; the President promises necessary home gardening tools under the new budget. And the heavy rain outside, at the moment, may indicate that the rain-gods are pleased with Sri Lanka’s attempts at going green.

14: 43

Despite the many promises being made by the President in Parliament at the moment, a Daily Mirror Reader isn’t very convinced.

 

Flavius says

“Government sector employees will hardly get any benefit from this budget. They have already softened the blow by saying the budget is aimed at increasing productivity and thereby hoping to reduce cost of living. We all know this is another pipe dream and will never happen. They have plenty of money for tamashas in St Kitts but let’s see if they have money to increase salaries of government sector employees. I suspect some nonsensical story will be told for the gullible gallery to swallow hook-line-and-sinker.”



14: 38

After the walk out of the UNP, things seem to have slowed down in the house and the president is continuing with the budget reading with few interruptions. He is at the moment explaining his plans for agricultural development in the country.


14: 36

This just in: after a physical confrontation between Harin Fernando and Dilum Amunugama the UNP left the chambers.

14: 34

The President promises prisons reforms and a speedy hearing of judicial cases.


14: 29

Looking bored and staring right ahead is Prime Minister D. M Jayaratne. Pushing his hair back and cleaning the sweat off his brow the Prime Minister seems affected by the earlier uproar in the house.


14: 28
“It’s so easy these days with the opposition, this is why we need an opposition, to scream and cause unrest in the house in this manner” - the President says.


14: 26
Despite the unrest in the house the President attempts to continue with the reading of the budget, calling on the members to sit down.


14.26

Despite the unrest in the house the President attempts to continue with the reading of the budget, calling on the members to sit down.

14:24

The speaker is trying to curb the unrest in the house, with little progress, while the President eggs on the opposition. Repeating the term “I am embarrassed by you people” to the opposition



14: 21

An increase in nutritional products to families is also being promised.


14:20

The President promises and increase in welfare to low income families and this is to be extended to those that have been affected by the war in the North and East.



14: 15

The President proposed that the welfare scheme for war heroes and their families to grant one lakh to the third child born in each family is to be extended to all those in the Sri Lanka Police in the 2012 Budget. Furthermore Rupees 750 is to be extended to the parents of war veterans.
 


14.10
The President emphasised the importance of not yielding to foreign pressure to solve the internal issues of the country. Reverting to a stance that has been part of the Rajapaksa government since the end of the war in 2009. The President takes every opportunity to bring up this fact, and the budget has sadly been no different


14: 02
Addressing his brother the Speaker of the House Chamal Rajapaksa, President Mahinda Rajapaksa reminisced about his childhood and their joint ambition to make a difference in the world together.


13.59
The President Arrived in Parliament a few moments ago to begin presenting the Budget to Parliament
13: 52
The Budget will be presented to Parliament today; it is also considered the second reading of the Appropriation Bill. The second reading of the Budget will take place tomorrow.The Committee stage meeting is set to take place on December 1.



13:25 HRS

The Federation of University Teachers' Association (FUTA) has called on the government to grant them a Salary increase in the 2012 Budget. FUTA told the Daily Mirror earlier that it is hopeful of getting a of 20 per cent salary increase.

Meanwhile Economic Affairs Minister Basil Rajapaksa stated that the budget in the coming year will focus on measures to reduce the cost of living, rather than increasing salaries.

“We are focusing more on increasing productivity and thereby reducing the cost of living. We believe this will be more effective than salary increases”-Basil Rajapaksa.


November 21, 2011

13:00 HRS

In approximately half an hour President Mahinda Rajapaksa is expected to arrive in Parliament to present the 65th budget of independent Sri Lanka and the third Budget of the present Parliament.

According to previous statements the budget for the coming year hopes to cut the deficit to 6.2 per cent of gross domestic product from 6.8 per cent in 2011 and maintain public investments at over 6.0 per cent of GDP. 

The Central Bank has said in statements that it expects an economic growth rate of 8.5 per cent in comparison to the estimated 8.3 per cent this year.



The Daily Mirror team will keep you up to date as the latest news happens for the Budget 2012. A live blog will be ongoing with new insights, the views of interested parties and the little nuances of what is going on in parliament as it happens.

Send in your comments on the budget 2012 through Facebook, Twitter, the comment section below or Email to


The Daily Mirror live blog is the first and fastest way to find out how the policies and proposals of Budget 2012 will matter to you.







 
 

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Comments 

 
-32+7 # so may 2011-11-21 13:37
prices down,pay rise budg.
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-3+73 # facebook goviya 2011-11-21 14:00
To keep productivity up is good, but better if you can keep all the foreign trips, and wasteful tamashas to a minimum...but I am dreaming...lets see...
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-1+8 # Sarath 2011-11-21 20:21
Dream on mate. As far as I know they haven't introduced a law against dreaming yet. So, dream on!!!

Actually, come to think of it you might have to sign up with the Ministry of Dreams but other than that you're free to carry on.
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-34+64 # strima123 2011-11-21 14:07
University Lecturers get Minimum 150,000 salary, a car permit,5000 rupees per hour lecture fees, 2 years leave with full pay and so called academic freedom to do whatever they do while working...............and produce low quality students who are unemployable.........so why on earth are they asking for more...
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-11+27 # Flavius 2011-11-21 14:08
Government sector employees will hardly get any benefit from this budget. They have already softened the blow by saying the budget is aimed at increasing productivity and thereby hoping to reduce cost of living. We all know this is another pipe dream and will never happen. They have plenty of money for tamashas in St Kitts but lets see if they have money to increase salaries of government sector employees. I suspect some nonsensical story will be told for the gullible gallery to swallow hook-line-and-sinker.
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-5+63 # Jamis Banda 2011-11-21 14:59
Well 2 things,
1. Still the government employees will vote for this government despite them not being treated
2. On the contrary, government employees (Majority) hardly work to deserve a hike
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-1+8 # Nanda 2011-11-22 08:59
very true
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-1+2 # marcus fernando 2011-11-21 21:20
how about the govt pensioneers
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-3+46 # Jamis Banda 2011-11-21 14:23
More welfare = More Taxes to us
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-2+1 # Gihan Edirisinghe 2011-11-21 20:46
Then what choice do we have?? Maintaining a steady economic growth rate, is the kind of idiology our country lacked for decades. When the govt is trying to do that, along with welfare, I think they deserve some kudos
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-1+0 # Sarath 2011-11-21 20:59
Remember you're trying to explain this connection to a populous that still thinks pilfering is a fun thing to do with no repercussions to them.

Interestingly, those who have the podium have never tried to show the connection either.
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-3+49 # Anura 2011-11-21 14:35
just reduce the no. of politicians and their perks and various staff who depend on public money. There are too many of them for this small country to sustain. Few to earn and many to feed is not good for any country
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-3+16 # Asarana Kolla 2011-11-21 14:50
Sounds killing me, will see the movie going on.
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-4+23 # Mishra 2011-11-21 14:53
So, to offset salary increase,Will all the Govt employees be provided with one more day off per week 2 do the Home Gardening?
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-3+33 # Rata Godda 2011-11-21 14:54
what is thea budject for government personal entertainment trips and expenses
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-3+40 # Jamis Banda 2011-11-21 15:05
Legal Profession ?? Ha Ha - we saw with Bharatha Laxman's and SF's case -indeed will be the hub for illegal activities.
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-1+2 # Sarath 2011-11-21 20:55
"Legal Profession"... such an oxymoron isn't it?
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-3+11 # neutral guy 2011-11-21 15:07
salary increase to public means more taxes on the general public. i believe if they can make this productivity thing a success it will be less burden for the public by making loss making Govt entities atleast break even.
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-1+30 # very concerned 2011-11-21 15:11
Will they give the Expartiate Works in the Middle East any benefits from this Budget or are they left forgotten as always??

Do they at least remmeber that this part of the polupaltion brings in the biggest amount of $$$$ that is spent for the country.

Please give us some benefit's, Don't ignor us as always!!
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-1+4 # Sarath 2011-11-21 21:09
If there is no one to care about them when nails are driven in or organs are gouged out, do you really think they will be remembered at a budget?

The only time they come to our minds is when our foreign reserves start running low. Unfortunately, these people have to send the money to keep their family fed and clothed. What a country, what a culture, sends its young females for slavery to foreign countries while men ride around in three-wheelers.
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-6+33 # jihaddeen 2011-11-21 15:11
Budget is for Public not for Ministers.
It's good nothing we giving to govenrment staff. they already earning without any good results. Enough for them now,,,
now will consider about country growth in every sector.
Education, Health, Safe Life, Transport, Tourism etc..
please bring more investors and do not charge with more TAX- let them get free trade, Go green, build new buildings, respect tourist - these are some tips.
Development Tips - Action by ALL SRI LANKANS are below.

1.protect our public property.
2.keep clean your home and your city.
3.do not keep any land spair please try to procuct some thing
4.bring new ideas.
5.give good health for kids.

we are BORN TO WIN not to loose. come on Sri Lanka. make our country proud and wealthy.
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-10+33 # dilshan 2011-11-21 15:16
Dear Flavius . hasnt the govt done enough for the state sector employees. they are the wellpaid, non taxable, pensionable, vehicle permits given, various allowances other than salary. and you work only haf the day unlike private sector employees
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-15+3 # Ruwan Ferdinandez 2011-11-21 15:24
Prez is right. May be that's why he is keen on developing waterways.
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-5+37 # Yuri 2011-11-21 15:43
Typical Third world Budget
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-3+26 # neutral guy 2011-11-21 16:19
All n All Nothing in the budget. Exchange depreciation by 3% will affect almost every sector. Then the inflation is Ineviatable. There could be another Fuel price hike coming very soon since exchange affects the oil import price.
.... Cant's understand why they impose monetory policy tools in fiscal policy meeting... Better get some educated people to the ministry.
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-0+0 # Imran Hussein 2011-11-22 14:06
Educated people to ministries? I too wish but Its a distant dream
Very Good Comments, Neutral Guy.
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-2+1 # Man B 2011-11-21 19:18
hole budget for the rainy day.
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-2+3 # Hamzie 2011-11-21 19:21
Well said neutral guy.
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-1+5 # Peter 2011-11-21 21:04
It seems nothing from the budget for poor people who work in middle east and bring foreign currency to the country. It is very disappointing.
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-2+14 # Izmy 2011-11-21 23:03
Seems like we ard the hub of everything and ultimatly we will end in the shrub.
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-4+5 # Lankan hawker 2011-11-22 09:30
End of sri lanka ? whats there for the middle class people in the budget ? reduced bus fairs or reduced fuel expenses ? or salary increament ???
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-2+10 # Mano 2011-11-22 09:49
Last budget .. agreed for a pension scheme for overseas workers.. still no news .. so this budget promises also ???
Same way wth out any budjet daily prices are increasing.. So budjet is like a joke!!!
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-0+0 # tony offshore 2011-11-22 19:32
What about the pensioner who fought for the country,
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