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Budget 2021: Vehicle import controls to continue; boost for tourism, exports
View(s):Vehicle import controls will be continued and heavy concessions granted to the tourism and export sectors, according to the highlights of the 2021 Budget to be presented in Parliament on Tuesday by Prime Minister and Finance Minister Mahinda Rajapaksa.
Accordingly, vehicle imports suspended this year to prevent the foreign exchange outflow will continue. Permit holders will be able to continue to buy their vehicles from available stocks in the market.
A Treasury source said that import controls had helped to save more than US$ one billion and therefore will remain unchanged.
The tourism sector which is hoping to bounce back next year after a bleak year due to the COVID-19 pandemic is due to be given concessions in the budget.
The export sector, too, will be given concessions through the Budget as the Government was hoping to revive the economy mainly through the export sector.
In the 2021 Appropriation Bill, government expenditure has been estimated at Rs. 2.6 trillion with the limit on borrowing set at Rs. 2.9 trillion.
Parliament will meet at 1.40 p.m. on Tuesday when the new Government’s first budget will be presented.
The media gallery will remain closed during the entire budget debate.