FITIS also welcomes the government’s commitment to increasing the minimum wage and improving working conditions for workers.
FITIS Welcomes Budget 2025
The Federation of Independent Trade Unions of Sri Lanka (FITIS) has welcomed the Budget 2025 presented by President and Finance Minister Anura Kumara Dissanayake. The budget has been hailed as a significant step towards driving the country’s digital economy revolution, with a focus on Small and Medium Enterprises (SMEs) growth and cashless payments.
Key Initiatives
The government aims to support local businesses by providing them with the necessary resources and infrastructure to grow and compete globally.
Key Initiatives for Local Companies
The government has outlined several initiatives to support local companies, including:
Examples of Successful Local Companies
Several local companies have already benefited from these initiatives, including:
The Digital Payments Revolution
The 2025 Budget has set its sights on revolutionizing the way people make payments, with a focus on digital payments. This shift is expected to have a significant impact on the formal financial sector, bringing millions of people into the fold.
Key Features of the Digital Payments Promotion
The digital payments revolution is expected to have far-reaching consequences, including:
The Benefits of Digital Payments
Digital payments offer a range of benefits, including:
Here are some key points about FITIS and its initiatives:
FITIS Overview
FITIS is a non-profit organization that aims to promote the growth of the IT industry in Sri Lanka. The organization was established in 2004 and has since become a leading voice in the country’s technology sector.
Key Objectives
DigiGo Program
The DigiGo program is a flagship initiative of FITIS that aims to empower MSMEs in Sri Lanka. The program provides training, mentorship, and resources to help businesses improve their digital capabilities.
Key Features
Impact of FITIS and DigiGo
FITIS and its initiatives have had a significant impact on the growth of the IT industry in Sri Lanka.
The Digital Divide in Sri Lanka
Sri Lanka’s digital transformation journey has been hindered by the significant digital divide that exists between urban and rural areas. The country’s rural areas lack access to reliable internet connectivity, making it difficult for residents to participate in the digital economy. This disparity is further exacerbated by the limited availability of digital literacy programs, which are essential for bridging the gap between those who have access to digital technologies and those who do not. Key statistics:
- • 70% of rural households lack access to the internet
- • 40% of rural households have limited access to mobile phone coverage
- • 20% of rural households have no access to mobile phone coverage at all
- Enhanced cybersecurity measures: The government will invest in advanced cybersecurity systems to protect Sri Lanka’s digital infrastructure from cyber threats. Digital payment systems: The budget includes funding for the development of digital payment systems, aiming to increase financial inclusion and reduce cash transactions. E-government services: The government will launch a range of e-government services, including online portals for public services, to improve citizen engagement and reduce bureaucracy.
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The lack of digital literacy is a significant challenge in Sri Lanka. Many residents, particularly in rural areas, lack the skills and knowledge necessary to effectively use digital technologies.
The budget allocates significant resources to digital infrastructure, aiming to create a robust and secure online environment for Sri Lankans.
A Digital-First Economy: The Vision Behind the 2025 Budget
The 2025 Budget, presented by President Anura Kumara Dissanayake, marks a significant departure from the traditional economic models that have characterized Sri Lanka’s development. The budget’s focus on digital infrastructure and online services reflects a bold vision for a digital-first economy, where technology plays a central role in driving growth and innovation.
Key Initiatives and Investments
The budget allocates substantial resources to digital infrastructure, including:
