News
Revenue collection exceeds target for first quarter by more than Rs. 45 billion
The government’s revenue had exceeded the target for the first quarter of 2024 had by 6 percent, State Minister of Finance Ranjith Siyambalapitiya said on Monday.
The State Mionister said the government expcted a revenue collection of Rs 4,106 billion in 2024 and wanted the state revenue to be at least 14 percent of the GDP. He said he believed the revenue target for the year was attainable.
The State collects revenue through three institutions, Sri Lanka Customs, the Excise Department, and the Inland Revenue Department.
The government had collected Rs 834 billion in the first quarter, far above the expected revenue target of 787 billion rupees for the period, he said.
Under International Monetary Fund-backed reforms, Sri Lanka has raised its value-added tax, imposed new taxes, and increased personal income taxes to boost revenue.
Following the conclusion of bilateral discussions between President Anura Kumara Disanayake and Prime Minister of India, Shri Narendra Modi, official-level talks between the delegations of Sri Lanka and India commenced this morning (05) at the Presidential Secretariat in Colombo.
Representing the Government of Sri Lanka were Prime Minister Dr. Harini Amarasuriya, Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath; Minister of Labour and Deputy Minister of Economic Development, Anil Jayantha; Secretary to the President Dr. Nandika Sanath Kumanayake; Governor of the Central Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe, along with other senior officials.
The Indian delegation included Minister of External Affairs Dr. S. Jaishankar, National Security Advisor Ajit Doval, Foreign Secretary Vikram Misri and His Excellency Santosh Jha, High Commissioner of India to Sri Lanka, along with several other senior officials of the Government of India.
Indian Prime Minister Shri Narendra Modi, who arrived in Sri Lanka on the invitation of President Anura Kumara Disanayake on Friday [04] night, visited the Presidential Secretariat this morning (05).
The Indian Prime Minister was warmly welcomed by President Anura Kumara Disanayake upon his arrival at the Presidential Secretariat.
Prime Minister Modi is currently on a state visit to Sri Lanka, reaffirming the theme “Friendship of Centuries — Commitment to a Prosperous Future” which symbolises the longstanding ties between Sri Lanka and India. The Indian Premier is scheduled to remain in the country until tomorrow (06).
[PMD]
The official welcoming ceremony for Indian Prime Minister Narendra Modi, was held this morning (05) at the Independence Square in Colombo.
On arrival at the Independence Square the Indian Prime Minister was warmly welcomed by President Anura Kumara Disanayake.
Discussions between Sri Lankan and Indian delegations at the presidential secretariat
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Indian Prime Minister Shri Narendra Modi arrives at the presidential secretariat
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