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A development budget to overcome economic challenges – Lanza

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Minister of Finance Basil Rajapaksa has presented a number of policy decisions to achieve the country’s future development and economic goals in the midst of many national and international challenges, said State Minister for Rural Roads and Other Infrastructure Nimal Lanza.

State Minister Lanza expressed these views while commenting on the Budget 2022.

Lanza further said, this year’s Budget was presented amidst the economic, social and political challenges that have arisen in all countries around the world, especially due to the Covid pandemic.It proposes to implement a number of innovative policies with the aim of making President Gotabaya Rajapaksa’s National Policy Framework, “Vistas of Prosperity and Splendour” a reality.

“The Budget provides more benefits for the development of small and medium scale industries to boost economic development. The necessary background has been created to encourage small and medium scale producers through the plantation industry, traditional industry, textile industry and the establishment of small investment zones throughout the country,” State Minister Lanza said.

A programme has been formulated to implement the programme of President Gotabhaya Rajapaksa to provide organic fertilizer instead of chemical fertilizer in order to provide non-toxic food to the people of the country in a more systematic manner. This year’s budget focuses on new technologies for the upliftment of agriculture and I believe that this will lead to higher production and food security.

“Strengthening the country’s road network will enable to create a better infrastructure for the country’s manufacturing economy, future development of the country and to encourage investors. In particular, the proper development of the rural road network and its connection to the main road network will be of great assistance to the development of all sectors. Despite the COVID-19 challenge, the national programme to develop 100,000 km road development programme has been implemented and 18,000 km hace already been devloped this year. The Budget has allocated funds for the development of another 25,000 km of road next year. The programme to build thousands of rural bridges which is another special need of the rural population is in progress. In terms of the Expressway network, more Flyovers will be opened by the end of 2024 to reduce traffic congestion in Colombo including the Colombo Port Access Road, Colombo Athurugiriya Expressway, Ruwanpura Expressway, Central Expressway, Kurunegala Dambulla Expressway, Colombo Moratuwa Coastal Road. Rs.280,000 million has been allocated for this purpose.

Rs. 15,000 million has been allocated for the ‘Home Shop’ programme to create women entrepreneurs in the village and strengthen the village economy. This will create a network of rural supermarkets and will lead to the development of the rural economy as well as infrastructure development.

State Minister Lanza further said that this year’s Budget will be able to achieve the country’s expected economic and development goals.

Monday, November 15, 2021 – 01:00











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