Economists welcome Blue-Green development strategy
View(s):The government ‘s policy of pursuing a Blue – Green development strategy through the 2018 budget is most welcome and essential for the country’s environmental conservation, says an eminent economic expert when he briefed the Business Times on the outcome of the budget.
Prof. Sirimal Abeyratne of the Colombo University noted that the budget has brought full of expectations and its implementation should be the responsibility of relevant ministries and state institutions.
The far reaching reforms and policies suggested by the Treasury are going far beyond the purview of the budget; he said adding that the massive debt repayment in past years surpassed the state tax revenue.
Under this set up it is doubtful as to how the government envisages substantial tax revenue through the new revenue proposals.
The problem here is in maintaining unavoidable complicated tax system till the streamlining and widening of the tax system even for a short time till the overcoming of the massive debt burden, he added.
The performance of the budget depends on the efficiency and effectiveness of the reform process to deliver what is promised in the budget, he added.