Megapolis and Western Development Minister Patali Champika Ranawaka has observed that Finance Minister Mangala Samaraweera has presented a Budget that indicates that the island nation can manage its expenditure from its income. Our economy has been balanced now.
He was addressing opening the Second Reading debate of Budget 2018 on the second allotted day in Parliament on Saturday. During his speech, he stated that Sri Lanka has been able to show a ‘positive primary budget balance’ indicating that the country can manage its expenditure from the income it earns when the debt repayment has been excluded. This has happened after several decades. In 2014, the total State Tax Revenue stood at Rs.1,050 billion. The estimated state revenue for 2018 is Rs 2,034 billion.
He added that the gradual drop in state revenue had been a worrying factor of our economy for many years. The Finance Ministry, the President and the Prime Minister must be congratulated for reversing it.
He commended the budget proposal to bring down the prices of electric cars. He pointed out charging them during the peak hours must be discouraged. If people start charging them between 6.30 p.m. to 9 p.m, the peak-demand will go up, burdening the CEB more. Charging of electric vehicles must be done only after 9.30 p.m.