SriLanka, Nov. 15 -- Consumers could benefit from lower prices for a range of goods following the Government's decision to reduce CESS rates by 25 per cent on 800 selected import tariff lines, Finance Ministry officials and senior economists told the Sunday Observer yesterday.

Presenting the 2027 Budget in Parliament, President Anura Kumara Dissanayake outlined the tariff changes as part of wider tax reforms aimed at simplifying the import tax structure, reducing trade-related costs and improving the competitiveness of the economy. The President said the measures were intended to strengthen the country's production economy and ensure that economic growth generated wider benefits for the public.

According to the Budget 2027 tariff schedu...