Whatever the budget proposals may be, certain things remain unchanged and without a light at the end of the tunnel. There is no progress taking place in terms of local enterprises and entrepreneurs. The mighty people and certain segments of the not-so-mighty too evade tax. The common man has to tighten his belt.
The relief of the budget proposal is not truly felt by the people. It is more likely that much more is spent on constructing the budget proposals. Nevertheless, only a fraction of it can prove to be favourable from the point of view of the country and its people.
Why do we bother with this? While the budget sessions are going in the Parliament the people are suffering with unofficial power cuts, water cuts, new price increases and more and more bad news. This country is well and truly going to the dogs. The people listed to all the lies that they are told, so they should be the ones to take the blame for what is going on. We need better people to lead us.
Budget 2019 could be easily dubbed as an ‘Election Budget’ aimed to please the voters. However, even though the budget is not perfect, it presents a few impressive ideas such as a request to amend labour law to allow part time/ flexible working hours, allocation to reform public transport services, allocation to provide agriculture technology and innovative parks, proposals to grow and expand into new markets, etc. But the question is, will the government execute these budget proposals? The budget is not perfect…but the government’s ability to carry forward the few impressive ideas presented by the Finance Minister is what counts.
This budget is sure to cause dismay among its people. Certain budget proposals sound fancy or like a window dressing to the further deteriorating assets and deficits in the balance of payments of the government. Does this sound pragmatic? Whether facilities are extended to certain segments of the country is something that can be questioned. This sounds like a ploy to lure the voters for the oncoming elections.
Say there is a concessionary housing loan rate for the married, is there a hidden pricing formula where the government will somehow recover the losses arising from allowing such concessions from the public? Minister of Finance, you may have a crafty and decorative mindset that may work out well in a different field.
Look back and see who is the responsible authority behind the Ministry of Finance. This is not meant as a rebuke, but when ministers of this nature are appointed, the public cannot suppress their discontent. Skimming through the enormous list of Budget 2019, without the usual rating of the budget proposals, anyone who has an independent mindset would identify that what you can expect from it would also be determined by the Minister of Finance. Economics experts bear the view that Sri Lanka has not had an influential finance minister since the tenure of Mr. Ronnie De Mel, some 20 years ago. It does not mean that he was the best. However, Mr. De Mel executed duties with an intellectual mindset, which is a benchmark too high in comparison with the decision making powers of the current finance minister. So, in this light, how can the public view the 2019 budget?
In my opinion, there are many temporary patch-ups as if to cover potholes on a road. This is, more or less, an observation that can be identified as common in the Sri Lankan budget. This has always been the trend, especially with the price slashing of essential food items that never saw the benefit of realization, simply because both – the regulation and regulators – were not in proper function.
However, the Chronic Kidney Disease (CKD) issue has to be given double the amount of consideration. It appears to be given a temporary solution. Much emphasis and allocation has been made for treating CKD patients. But why can’t these funds be invested to nip the issue in the bud instead of just treating the consequences? Why not handle the issue head-on and allocate the 2.4 million rupees funds for the worthy cause of saving our own people?
We have a surplus number of cabinet ministers who are unable to address serious socioeconomic issues.
Maybe the fact that the budget was proposed in March, which is the month in which International Women’s day falls, calls for gender equality. It appears to welcome women and empower them through increased female participation in the workforce. A mandatory representation of women on corporate boards has been imposed for listed companies and the SEC has been assigned the ‘watchdog’ task of ensuring this.
There has been much debate regarding the inequity in pay and perks, working conditions and flexibility for women, which is also seen in the Sri Lankan context. However, women’s representation at the board level has to be reported to the SEC as stipulated. The question here is whether the terms and conditions, pay and perks of female board members would be in par with that of their male counterparts, especially in case of violations, where fallback mechanisms can be actioned. If the answer to this is ‘Yes’, it augurs well for a wider representation of women.
Whatever the budget proposals may be, certain things remain unchanged and without a light at the end of the tunnel. There is no progress taking place in terms of local enterprises and entrepreneurs. The mighty people and certain segments of the not-so-mighty too evade tax. The common man has to tighten his belt.
The relief of the budget proposal is not truly felt by the people. It is more likely that much more is spent on constructing the budget proposals. Nevertheless, only a fraction of it can prove to be favourable from the point of view of the country and its people.
Why do we bother with this? While the budget sessions are going in the Parliament the people are suffering with unofficial power cuts, water cuts, new price increases and more and more bad news. This country is well and truly going to the dogs. The people listed to all the lies that they are told, so they should be the ones to take the blame for what is going on. We need better people to lead us.
Budget 2019 could be easily dubbed as an ‘Election Budget’ aimed to please the voters. However, even though the budget is not perfect, it presents a few impressive ideas such as a request to amend labour law to allow part time/ flexible working hours, allocation to reform public transport services, allocation to provide agriculture technology and innovative parks, proposals to grow and expand into new markets, etc. But the question is, will the government execute these budget proposals? The budget is not perfect…but the government’s ability to carry forward the few impressive ideas presented by the Finance Minister is what counts.
This budget is sure to cause dismay among its people. Certain budget proposals sound fancy or like a window dressing to the further deteriorating assets and deficits in the balance of payments of the government. Does this sound pragmatic? Whether facilities are extended to certain segments of the country is something that can be questioned. This sounds like a ploy to lure the voters for the oncoming elections.
Say there is a concessionary housing loan rate for the married, is there a hidden pricing formula where the government will somehow recover the losses arising from allowing such concessions from the public? Minister of Finance, you may have a crafty and decorative mindset that may work out well in a different field.
Look back and see who is the responsible authority behind the Ministry of Finance. This is not meant as a rebuke, but when ministers of this nature are appointed, the public cannot suppress their discontent. Skimming through the enormous list of Budget 2019, without the usual rating of the budget proposals, anyone who has an independent mindset would identify that what you can expect from it would also be determined by the Minister of Finance. Economics experts bear the view that Sri Lanka has not had an influential finance minister since the tenure of Mr. Ronnie De Mel, some 20 years ago. It does not mean that he was the best. However, Mr. De Mel executed duties with an intellectual mindset, which is a benchmark too high in comparison with the decision making powers of the current finance minister. So, in this light, how can the public view the 2019 budget?
In my opinion, there are many temporary patch-ups as if to cover potholes on a road. This is, more or less, an observation that can be identified as common in the Sri Lankan budget. This has always been the trend, especially with the price slashing of essential food items that never saw the benefit of realization, simply because both – the regulation and regulators – were not in proper function.
However, the Chronic Kidney Disease (CKD) issue has to be given double the amount of consideration. It appears to be given a temporary solution. Much emphasis and allocation has been made for treating CKD patients. But why can’t these funds be invested to nip the issue in the bud instead of just treating the consequences? Why not handle the issue head-on and allocate the 2.4 million rupees funds for the worthy cause of saving our own people?
We have a surplus number of cabinet ministers who are unable to address serious socioeconomic issues.
Maybe the fact that the budget was proposed in March, which is the month in which International Women’s day falls, calls for gender equality. It appears to welcome women and empower them through increased female participation in the workforce. A mandatory representation of women on corporate boards has been imposed for listed companies and the SEC has been assigned the ‘watchdog’ task of ensuring this.
There has been much debate regarding the inequity in pay and perks, working conditions and flexibility for women, which is also seen in the Sri Lankan context. However, women’s representation at the board level has to be reported to the SEC as stipulated. The question here is whether the terms and conditions, pay and perks of female board members would be in par with that of their male counterparts, especially in case of violations, where fallback mechanisms can be actioned. If the answer to this is ‘Yes’, it augurs well for a wider representation of women.