By Pujanee Galappaththi
On 17 November 2020, the Budget for 2021 was tabled by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance. The proposals put forward were greatly focused on poverty alleviation and economic revival as envisaged in the “Vistas of Prosperity and Splendour” policy framework of the Government of President Gotabaya Rajapaksa.
The Finance Minister stressed that it is their duty as policymakers to “formulate our national policies with a long-term strategic vision, protecting our sovereignty, to exploit the development opportunities that arise as a central hub, in the new economic order of the world”.
As it is a trying time and a very important Budget, we spoke to some members of the public to see if they were satisfied with the budgetary proposals or if they had expected more.
Here’s what we found out.
Raises a few eyebrows
Gulzar Ahmed – Co-founder, Global Strategic Network
The much-awaited budget raises a few eyebrows. I was expecting more to be allocated for the environment and climate change, while hoping we would see something substantial that would reshape the education sector. I was honestly expecting more public-private partnerships encouraged, however it has only been discouraged. A comprehensive plan to solve the unemployment issues of local graduates and revamping the state education system by implementing STEM (science, technology, engineering, and mathematics) subjects which has been under discussion over quite some time was never implemented.
Why nothing substantial on environment?
Dr. Prasanna A. – consultant at Kandy General Hospital
There wasn’t a single substantial proposal to conserve and preserve the environment. The proposal to install the coal power plant is something that contributes to the constant degradation of the environment. We have an abundance of renewable resources such as solar and wind that can be utilised for energy production. We need to help the environment.
I have hope for the Govt.
Premalatha Perera – Sunday school teacher
The Budget took a liberal approach to improving the country. Self-sufficiency in sustainable local production will benefit us in the long term and establish a strong supply chain between local farmers and consumers. I believe this Budget will help Sri Lanka out of the black hole that it has been pushed into by Covid-19, and I have hope for the Government.
Mainly to fix Covid-19 chaos
Nimesh Attigalle – management student
As predicted, the Budget this year was focused on fixing the chaos created by Covid-19. Proposals were made to further provide for the agriculture and development sectors. However, no further provisions were made to achieve our Sustainable Development Goals (SDGs) by preserving the environment except for the polythene ban that will be implemented from January 2021. This is greatly disappointing.
Good budget if implemented properly
Shehani Senanayake – management student at the University of Kelaniya
As predicted, the Budget provided for the betterment of the agricultural and fishing sectors, which I believe is the right call, given the circumstances. Other proposals put forward, such as on the retirement age for the private sector, distance-learning platforms, and new universities, are all brilliant initiatives, if implemented with due care and regard.
Some goals unrealistic
Asela Senerath – marketing manager and economics tutor
The 2021 Budget couldn’t have come at a worse time. With Covid-19 spreading like wildfire, the Budget is the last thing on people’s minds right now. Although, I believe some interesting proposals were put forward in the new Government’s vista for empowering the poor and empowering the youths. The only concern is the proper implementation and some of these goals are a little unrealistic.
Decent budget
Harpo Gooneratne – CEO and Founder of Harpo's Cafes and Restaurants
[caption id="attachment_106093" align="alignleft" width="300"]
Harpo Gooneratne – CEO and Founder of Harpo's Cafes and Restaurants[/caption]
From a hospitality point of view, we were very pleased that the Government extended the moratorium till next year – that was a great relief. Although I believe the importation tax could have been eased a little bit, on goods that are imported such as certain foods and wines. Besides that, I personally believe that it is a pretty decent budget.
Agricultural provisions satisfactory
Hiran Wickramasinghe – Group Managing Director of Informatics[/caption]
A clear mandate focused on a much-needed domestic production-focused economy. The Budget has enabled the private sector to pave its course towards recovery until the country rides out the pandemic. In terms of Informatics, the Budget proposals have been very favourable towards all three company verticals – information technology (IT), education, and agriculture.
Not gender-sensitive
Anuki Premachandra – Strategic Communications Manager of Adfactors PR
[caption id="attachment_106095" align="alignleft" width="300"]
Anuki Premachandra – Strategic Communications Manager of Adfactors PR[/caption]
In terms of a broader perspective, I feel like our Budget is not adequately gender-sensitive. Gender-responsive and gender-sensitive budgeting is essential to ensuring the benefits of certain budget provisions reach both men and women. It is unfortunate to see that the Budget has not considered a tax relief on essentials like sanitary napkins, where tariffs are as high as 52%.
Tackling pandemic repercussions
Dilshan Senaratne – Founder and former CEO of Cyaniq Global (Pvt.) Ltd. and Head of Marketing (SL) and Corporate Communication (SL, APAC, and EME) at Virtusa Corporation
[caption id="attachment_106096" align="alignright" width="300"]
Dilshan Senaratne – Founder and former CEO of Cyaniq Global (Pvt.) Ltd. and Head of Marketing (SL) and Corporate Communication (SL, APAC, and EME) at Virtusa Corporation[/caption]
The 2021 Budget will have a significant impact in the coming few years given the unprecedented global economic climate. It’s no secret that the repercussions of the pandemic will be felt both globally and in turn locally for many coming years and the economic policies adopted by local governments will make or break those respective economies in the medium term.
Harpo Gooneratne – CEO and Founder of Harpo's Cafes and Restaurants[/caption]
From a hospitality point of view, we were very pleased that the Government extended the moratorium till next year – that was a great relief. Although I believe the importation tax could have been eased a little bit, on goods that are imported such as certain foods and wines. Besides that, I personally believe that it is a pretty decent budget.
Agricultural provisions satisfactory
- Udayasiri – organic farm owner
Hiran Wickramasinghe – Group Managing Director of Informatics[/caption]
A clear mandate focused on a much-needed domestic production-focused economy. The Budget has enabled the private sector to pave its course towards recovery until the country rides out the pandemic. In terms of Informatics, the Budget proposals have been very favourable towards all three company verticals – information technology (IT), education, and agriculture.
Not gender-sensitive
Anuki Premachandra – Strategic Communications Manager of Adfactors PR
[caption id="attachment_106095" align="alignleft" width="300"] Anuki Premachandra – Strategic Communications Manager of Adfactors PR[/caption]
In terms of a broader perspective, I feel like our Budget is not adequately gender-sensitive. Gender-responsive and gender-sensitive budgeting is essential to ensuring the benefits of certain budget provisions reach both men and women. It is unfortunate to see that the Budget has not considered a tax relief on essentials like sanitary napkins, where tariffs are as high as 52%.
Tackling pandemic repercussions
Dilshan Senaratne – Founder and former CEO of Cyaniq Global (Pvt.) Ltd. and Head of Marketing (SL) and Corporate Communication (SL, APAC, and EME) at Virtusa Corporation
[caption id="attachment_106096" align="alignright" width="300"] Dilshan Senaratne – Founder and former CEO of Cyaniq Global (Pvt.) Ltd. and Head of Marketing (SL) and Corporate Communication (SL, APAC, and EME) at Virtusa Corporation[/caption]
The 2021 Budget will have a significant impact in the coming few years given the unprecedented global economic climate. It’s no secret that the repercussions of the pandemic will be felt both globally and in turn locally for many coming years and the economic policies adopted by local governments will make or break those respective economies in the medium term.