Budget 2015: An attempt to share fruits of growth resulted from economic policies since 2015
The budget 2015 presented to Parliament by President Mahinda Rajapaksa could be defined as an attempt to share the fruits of growth harvested from diligent pursuit of correct economic policies since 2005, Vice Chancellor of the University of Kelaniya Prof Sunanda Madduma Bandara said in Colombo today.
Senior economist Prof Madduma Bandara said that Sri Lanka could become a middle-income earning nation thanks to proper management of macro-economy during the five years after the end of the North East conflict in 2009.
Addressing a press conference by scholars, trade union leaders and professionals on various aspects of the Budget 2015 held at the auditorium of the Department of Government Information, Prof Madduma Bandara said that there were three main features when analyzing a budget document. They were whether the proposals made in the budget document were feasible to achieve, whether the proposals contain plans for the development of entire economy and what were the changes intended by those proposals to bring about macro-economically.
When analyzing the Budget 2015 on the aforesaid features, it could be seen that the proposals made by the President had been prioritized the development of the country. The proposals also indicated that all facets of local economy had been properly studied and all aspects have been addressed to bring about ‘something for everybody.’
Prof Ranjith Bandara of the Department of Economics of the University of Colombo said that that the Budget 2015 was further continuation of long-term economic policies followed by the government thus far. “Some long-term economic objectives set by the budget 2005 have been evolving in the budget documents of 2006, 2007 and following years. The year set to achieve these objects is 2020. In that sense, the budget 2015 is one positive step towards that achievement,” Prof Bandara said.
He said that Budget 2015 has focused on reducing the proportion of the population living below the minimum level of dietary energy consumption.
He said that the 2015 budget has addressed the issues of almost all sectors of the economy and the society.
Academics who addressed the press pointed out that it was wrong to dub this budget as an exercise with political goals by providing temporary relief to masses for the proposals contained long-term plans to improve educational, agricultural and industrial sectors.
President of Public Service Trade Union Federation W.H.Piyadasa, Chairman of the Pelwatte Dairy Industries Pvt Ltd, Ariyaseela Wickremanayake also addressed the press conference.(Special Reporter/HC)
