The Minister of Finance Mahinda Rajapaksa commenced presenting the budget report for the year 2021 which includes government expenditure to Parliament a short while ago.

n his budget speech, the Prime Minister stated that the social security of society is one of the primary responsibilities of the government.

The government's primary focus on reforms that change the education system is to build a productive economy based on agriculture.

Meanwhile, the aim of this budget is to reduce the gap between government expenditure and revenue from 9 to 4 percent.

Budget 2021 Update: 50% income tax will be exempted for new local Companies that will listed in the  Colombo Stock Exchange until December 31, 2021.

A Special goods and services tax to be introduced.

The company tax law will be amended from April 01, 2021.

Income tax on revenue from Agriculture, fisheries & animal Husbandry will be removed for the next 5 years.