Sri Lankan Minister of Finance Managala Samaraweera presented the budget proposal for 2019 on Tuesday under the theme “Enterprise Sri Lanka – Empowering the People, Nurturing the Poor”.

The minister said over 30,000 entrepreneurs have benefitted from Enterprise Sri Lanka programme while funds amounting to around Rs 60 billion have already been released for this loan scheme. He said the scheme will be broadened and spread further while programmes will be implemented across the island to educate the masses.

Keeping in view the elections later this year, the budget announced few welfare programme including concessionary home loan for newly married, enhanced allowances for government servants and free education in foreign universities for high school topper students.

The excise duty on liquor and import duty on vehicles were proposed to be increased to achieve revenue targets. The budget was to be presented last November but was delayed due to political crisis in the country.

The minister announced a sequence of steps to increase the number of women in the country’s work force and said labour laws will be amended to achieve this.

The budget projected plans to increase public revenue to 17 percent of Gross Domestic Product (GDP) with a deficit to 4.4 percent.