Sri Lanka’s 2012 budget to focus on increasing productivity

Nov 20, Colombo: A senior minister of the Sri Lankan government says the government would take measures to reduce the cost of living in the 2012 budget.

Economic Development Minister Basil Rajapaksa has told a weekly newspaper that the government would look at reducing cost of living more than granting salary increases.

He has said the aim was to reduce the cost of living by improving productivity and the government will provide livelihood development programmes with more benefits.

According to Minister Rajapaksa, reducing prices of essential items by improving productivity would be more effective than granting salary hikes to the workers.

He has added that while the 2012 budget would also focus on development programmes, tax incentives would also be granted to the export sector in the country.

President Mahinda Rajapaksa is scheduled to present the 2012 Budget in Parliament tomorrow (21) afternoon.

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