A ‘Samurdhi Life Savings Account’ will be opened for all Samurdhi beneficiaries through the Samurdhi Bank, says Prime Minister Mahinda Rajapaksa.
Samurdhi allowances given by the government are proposed to be deposited in these accounts.
Rajapaksa said that steps will be taken to increase the savings of Samurdhi recipients by securing the fixed savings balances in those accounts by Treasury guarantees.
Provisions will also be made to invest those savings in Treasury bonds, and interest incomes from the investments will be exempted from all taxes, he added.
In addition, a new Samurdhi Enterprise Development Loan Scheme at the interest rate of 7 percent has been proposed under the Budget.
These loans will be obtained from 90 percent of the funds deposited in state banks by the Samurdhi Bank.
The loans will be aimed at developing housing, economy, and businesses of Samurdhi recipients.
