The new government announced a salary hike of Rs. 5000 for state sector employees effective from February.

Finance Minister Ravi karunanayake, in its first budget speech, also said that a further increment of Rs. 5000 will be given to state sector employees in June.

He also urged the private sector to grant a salary hike of Rs. 2500 for its employees.

Meanwhile, retired state sector employees will also receive a pay hike of Rs. 1000 from April.

Finance Minister Ravi Karunanayake, while commencing his budget speech, claimed that the government aims to revitalize the economy, stating that the country had undergone a period of Economic turmoil.

Although the economy is in a sad state," Karunanyake said," it is not beyond resurrection."

Commenting on the country's present state of affairs, the Finance Minister said the total Government Debt at the end of 2014 is Rs. 8,817 billion and net debt per capita stands at Rs. 427,220.