Presenting the maiden budget of the unity government to parliament this afternoon, Finance Minister Ravi Karunanayake announced that prices of 11 essential consumer items have been reduced. In addition, the special levy on potatoes and big onions has also been waived.
Meanwhile the price of a domestic LPG gas cylinder has been reduced by 150 rupees, while the price of a liter of kerosene has been decreased by 10 rupees.
The finance minister said that the new budget has focused on building a strong middle class by generating one million job opportunities, developing infrastructure and building a sound rural Economy.
He said that an authority would be set up to regulate micro financial institutions.
Accordingly, all micro financial institutions should pay an annual fee and obtain registration from the regulatory body. At the same time a joint program would be set up to grant loans for small and medium entrepreneurs.