Business

2018 budget aims at Blue Green Economy, opportunities for youth

10 November 2017 - 520   - 0

 

 

 


The government’s 2018 designer budget is aimed at transforming Enterprise Sri Lanka into a Blue Green Economy.
A forward looking policy document presented in parliament by Finance Minister Mangala Samaraweera provides several proposals to empower youth and women while giving priority to building the future of every one.
1200 para- tariffs have been removed from the budget and it was huge jump towards the export sector, Minister Mangala Samrweera told a post budget meeting in Colombo on Thursday.
A sum of Rs, 35 billion has been allocated from the budget to empower youth numbering over 200,000 who were not selected to pursue university education.
These youth will be trained to become entrepreneurs enabling them to contribute to the development of the economy, he revealed.    
The “Enterprise Sri Lanka” vision will reawaken the entrepreneurial spirit enabling Sri Lanka to be a vibrant trading hub and encouraging all Sri Lankans to become co-owners of a country enriched.
The government will ensure that no entrepreneur is ever denied credit due to the lack of collateral, but is able to access financing given the viability of the project proposal.
A Development Bank with an EXIM window will be established, to enable the much desired long term financing for private sector ventures, he added.
He disclosed that he has proposed to support the formation of 50 agro and fishery companies, 25 majority women owned companies, and 150 youth centric start-ups (Bandula) .

 

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