3 November 2021 08:33 am Views - 122
By Ajith Siriwardana
The upcoming Budget for 2022 will be a transformational budget rather than being a traditional and an ordinary one,Secretary to the President P.B. Jayasundara said yesterday.
He said priority would be given to the field such as green economy, renewable energy, information technology and digital governance in the new budget.
He said this during a virtual press conference held at the Presidential Media Centre on the “Upcoming budget and country’s economic situation”.
He also said special attention had been paid to increase the state revenue while working within the government policy document of “Vistas of prosperity”.
“Volume of the production of goods and services should be increased in the country so as to increase the state revenue by means of tax such as VAT. The turnover would not be increased by imposing a new tax. Hence, the budget will include policies to increase production volume of goods and services, Dr. Jayasundara said.
Finance Ministry Secretary S.R. Attygalle said steps would be taken to reduce the budget deficit by a considerable amount going with the Government’s plans to bridge the deficit by 4.5 to 5 percent in 2025.