Mangala’s Maiden Budget to offer concessions for middle class

Mangala-Budget-2018-02

Minister of Finance Mangala Samaraweera is to present his maiden Budget in the House tomorrow Nov 9. Today, he announced pre-budget concessions by reducing the levy on several essential food items. They will be effective from midnight today, Nov 8.

There is wide speculation that the country’s 72 nd budget will reduce the burden borne by the people particularly the middle class. It will be a source of empowerment to medium and small entrepreneurs. The items on which the levy has been reduced are:

Item

Prevailing Duty Rate

(Rs. Per kilo)

New Duty Rate

(Rs. Per kilo)

Duty Reduction

by (Rs. Per kilo)

Sprats

11

01

10

Potatoes

40

01

39

B’ onions

40

01

39

Lentils – whole

10

01

09

Lentils – Split

15

03

12

Dried fish

102

52

50

Palm oil/other veg. oil – crude

110

95

15

Palm olen

115

100

15

Palm stearin

110

95

15

Refine palm oil

135

110

25

Other veg. oil refine

130

105

25

Palm Kernal – crude

130

105

25

Refine

145

110

35

Coconut oil

(Crude/ Refine)

     

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