Kerala Budget announces tax hikes, social security cess on fuel and liquor
1 year, 10 months ago

Kerala Budget announces tax hikes, social security cess on fuel and liquor

The Hindu  

Balagopal on Friday announced a string of tax increases and new cesses aimed at mopping up additional revenue in his Budget for the 2023-24 fiscal, even as the measures drew sharp criticism for burdening taxpayers at one fell swoop. The Budget also earmarked ₹2000 crore for tackling inflation and ₹100 crore for a ‘Make in Kerala’ programme intended to promote local industry and self-reliance. The Budget also announced hikes in the one-time tax on motorcycles, cars and private service vehicles, the one-time cess on newly-registered motor vehicles, and the electricity duty applicable to commercial and industrial units. Mr. Balagopal, who said that Kerala is ‘‘countering hard Budget constraints’‘ given the limited elbow space offered by the Centre on the fiscal front, also announced the government’s intention to revise the property tax, which could bolster the own fund of local bodies by ₹1,000 crore. Mr. Balagopal said ₹1,000 crore will be earmarked through the Kerala Infrastructure Investment Fund Board for acquiring land for the development of an industrial corridor connected to the Vizhinjam international seaport.

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History of this topic

Nearly 1,500 Kerala government employees found taking pension meant for poor
3 weeks, 5 days ago

Nearly 1,500 Kerala government employees found taking pension meant for poor

India Today  

An inspection ordered by the Kerala government has highlighted that 1,498 state officials, including gazetted officers and college professors in the state, were fraudulently receiving social security pensions meant for people of weaker sections of society. The irregularities came to light during an audit conducted by the Information Kerala Mission after instructions from the Finance Department to ensure that only …

80% spike in pension bill in 4 yrs piles up state’s fiscal woes
3 months, 2 weeks ago

80% spike in pension bill in 4 yrs piles up state’s fiscal woes

Hindustan Times  

The Punjab government, which is facing increasing pressure to implement its decision to revert to the old pension scheme, has seen an 80% jump in its expenditure on pension and other retirement benefits in four years. The pension bill, a key component of the committed expenditure of the state government, has added to the fiscal stress of debt-ridden Punjab. Upinder …

Govt, workers thrash out key issues in new pension scheme
4 months, 2 weeks ago

Govt, workers thrash out key issues in new pension scheme

Hindustan Times  

Representatives of the government and its employees have reached a consensus on the contentious pension issue, addressing concerns about post-retirement benefits without reverting to the old pension scheme, according to two people familiar with the matter. “After working out the finer details, the committee will submit its report to the government soon.” The resolution addresses three core apprehensions of employees, …

Odisha: Welfare promises, capex will need tightrope walk by government
5 months, 3 weeks ago

Odisha: Welfare promises, capex will need tightrope walk by government

New Indian Express  

BHUBANESWAR: As the Mohan Charan Majhi government prepares for budget 2024-25, funding of ambitious welfare schemes vis-a-vis capital expenditure will require a tightrope walk. As approved in the first cabinet chaired by Majhi after he took oath as the chief minister, the government seeks to implement at least three major promises - Subhadra Yojana, support price of Rs 3,100 per …

Centre approves borrowing limit of ₹21,253 Crore for Kerala to tackle economic crisis
6 months, 3 weeks ago

Centre approves borrowing limit of ₹21,253 Crore for Kerala to tackle economic crisis

Op India  

Prime Minister Narendra Modi has come forward to assist Kerala in a bid to alleviate the state from the economic crisis as the Centre has sanctioned borrowings up to Rs 21,253 crores. In a post on X on Saturday, Chandrasekhar mentioned, “PM @narendramodiji’s govt steps up to assist Kerala’s economic crisis Government of India sanctions borrowings up to Rs 21,253 …

Kerala's revenue soars to Rs 77,000 cr
7 months ago

Kerala's revenue soars to Rs 77,000 cr

Deccan Chronicle  

“We've managed a record increase in the state's own revenue even as the Centre financially squeezes us. The state's own tax revenue rose from Rs 47,000 crore in 2020-21 to Rs 77,000 crore in 2023-24,” Balagopal said. “Without this increase, Kerala's economy would have collapsed due to the central government's anti-state policies.” The minister also noted that the state government …

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit
10 months, 1 week ago

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit

The Hindu  

The total outlay of the Karnataka State budget for 2024-25 is pegged at ₹3,71,383 crore, as against a revised estimate of ₹3,12,708 crore for 2023-24. Karnataka Budget 2024-25: LIVE coverage While the Chief Minister has not increased any taxes, he has presented a revenue deficit budget with the net borrowings crossing ₹1 lakh crore, perhaps for the first time in …

CAG finds fault with Kerala’s off-Budget borrowings again
10 months, 1 week ago

CAG finds fault with Kerala’s off-Budget borrowings again

The Hindu  

Off-Budget borrowings have yet again drawn the criticism of the Comptroller and Auditor General of India whose latest audit report was tabled in the Kerala Legislative Assembly on February 15. Apart from borrowings made by the Kerala Infrastructure Investment Fund Board and the Kerala Social Security Pension Ltd, the borrowings under a bill discounting system also have drawn flak this …

Kerala gets Rs 21 while Bihar gets Rs 70 from every Rs 100 collected as tax: Finance Minister Balagopal
10 months, 2 weeks ago

Kerala gets Rs 21 while Bihar gets Rs 70 from every Rs 100 collected as tax: Finance Minister Balagopal

New Indian Express  

THIRUVANANTHAPURAM: Kerala gets Rs 21, while UP gets Rs 46 and Bihar gets Rs 70 from every Rs 100 collected as tax from these states, said Finance Minister KN Balagopal while presenting the State Budget 2024-25 on Monday. But the Centre provides only Rs 21 against Kerala's own tax collection of every Rs 79. In the divisible pool of tax …

Kerala Finance Minister hints at new law to expedite revenue arrear collection
1 year, 10 months ago

Kerala Finance Minister hints at new law to expedite revenue arrear collection

The Hindu  

Finance Minister K. N. Balagopal said the government weighed amendments to the existing laws relating to the levy of tax on sales and trade to expedite revenue arrear collection. Speaking to reporters on the sidelines of the Communist Party of India State secretariat meeting at the AKG Centre here, Mr. Balagopal said the government also planned more amnesty schemes for …

Social security cess on fuel forces a vexing political calculus on government
1 year, 10 months ago

Social security cess on fuel forces a vexing political calculus on government

The Hindu  

The proposed additional social security levy of Rs. He says the government is hard-pressed to forsake an estimated Rs 11,000 crore the State requires to meet its social security commitments, a potentially advantageous political priority for the Left Democratic Front. Not surprisingly, Mr. Balagopal told the Assembly that he is ready to take the flak for the fuel cess in …

Kerala Budget 2023-24: Govt to allocate ₹1,000 crore for ’Make in Kerala’
1 year, 10 months ago

Kerala Budget 2023-24: Govt to allocate ₹1,000 crore for ’Make in Kerala’

Live Mint  

Kerala Finance Minister KN Balagopal on 3 February presented the state Budget for fiscal 2023-24 in the State Assembly and allocated ₹1,000 crore for 'Make in Kerala'. Under 'Make in Kerala', the minister said that facilities and infrastructure will be developed to increase domestic production, as well as employment, entrepreneur, investment opportunities in Kerala. According to the report, Kerala imported …

₹2,828.33 crore for public health in Kerala Budget
1 year, 10 months ago

₹2,828.33 crore for public health in Kerala Budget

The Hindu  

The State Budget 2023-24 speaks about transforming Kerala into global healthcare capital, providing better healthcare services, focussing on health tourism and expanding and modernising existing facilities. “Navakerala Karma Padhati-2”, which has clubbed Rebuild Kerala Initiative and four Missions — Haritha Keralam, Aardram, LIFE and Vidya Kiranam — together gets an outlay of ₹10 crores in the Budget, while a chunk …

Kerala Budget will push people to further suffering: BJP
1 year, 10 months ago

Kerala Budget will push people to further suffering: BJP

The Hindu  

BJP State general secretary C. Krishnakumar said here on Friday that the State Budget would push the people into further suffering. Kerala has become the State to charge the highest price for petrol and diesel in the country,” said Mr. Krishnakumar. The government, the BJP leader said, is pushing the people to further depths of suffering by increasing taxes. Mr. …

Kerala: Liquor, fuel to become costly as social security cess levied
1 year, 10 months ago

Kerala: Liquor, fuel to become costly as social security cess levied

Live Mint  

Prices of petrol, diesel, and liquor are to go up in Kerala as the state government has imposed Social Security Cess on their sales to mobilise additional revenue in the state budget. Kerala Finance Minister K N Balagopal said it is proposed to levy a Social Security Cess at the rate of ₹20 for each bottle of Indian-made foreign liquor …

Explained | Kerala’s mounting public debt
2 years, 4 months ago

Explained | Kerala’s mounting public debt

The Hindu  

The story so far: Over the past few months, Kerala’s mounting debt liabilities have been brought into sharp focus with the Reserve Bank of India, the Comptroller and Auditor General, and the opposition Congress-led United Democratic Front flagging the issue. Kerala Infrastructure Investment Fund Board A body corporate constituted by the Government of Kerala to mobilise financial resources outside of …

Show commitment to equity in the Budget
2 years, 10 months ago

Show commitment to equity in the Budget

The Hindu  

On January 17, 2022, Oxfam International presented its annual global “Inequality Report”. During the novel coronavirus pandemic, the report reveals, more than half the world’s new poor are from India; 84% Indian households have suffered a loss of income, with 4.6 crore people falling into extreme poverty. One of the most important places to show commitment to equity, is the …

Kerala firm on not reducing VAT on fuel prices, says state is in 'grim financial situation'
3 years, 1 month ago

Kerala firm on not reducing VAT on fuel prices, says state is in 'grim financial situation'

India TV News  

The Kerala government has on Friday said firmly that there will be no tax reduction on the petrol and diesel prices, quoting the state's grim financial situation. Justifying the state's decision not to cut the additional tax on fuel, state Finance Minister K N Balagopal, while addressing a press conference said Kerala has not increased the state-tax on petrol and …

Kerala government firm on decision not to reduce fuel tax
3 years, 1 month ago

Kerala government firm on decision not to reduce fuel tax

Firstpost  

While many other states had increased fuel tax and introduced cess during the COVID-19 period, Kerala had not done so considering the plight of struggling commoners, said state Finance Minister K N Balagopal Thiruvananthapuram: Despite opposition criticism, the Kerala government on Friday reaffirmed its stand that it could not forego the taxes on fuel due to the grim financial situation …

Rs 1,481.87 cr pension to be distributed to over 48 lakh poor ahead of Onam: Kerala CM
3 years, 4 months ago

Rs 1,481.87 cr pension to be distributed to over 48 lakh poor ahead of Onam: Kerala CM

India TV News  

Rs 1,481.87 crore will be distributed to poor people as pension in August, Kerala Chief Minister Pinarayi Vijayan said on Sunday. This is done with a view to bring Onam cheer to over 48 lakh poor people, who have been hit the hardest due to the COVID-19 pandemic. Vijayan, in a tweet, said that with Onam just round the corner …

Kerala Polls 2021: LDF Manifesto Promises Rehabilitation Of Returning NRIs, Rs 2500 Pension For Homemakers
3 years, 9 months ago

Kerala Polls 2021: LDF Manifesto Promises Rehabilitation Of Returning NRIs, Rs 2500 Pension For Homemakers

ABP News  

The ruling Left Democratic Front on Friday released the manifesto ahead of the Kerala Assembly elections promising robust efforts to maintain the state’s secular fabric with special emphasis on the youth, senior citizens and alleviation of poverty. ABP Opinion Poll: Pinarayi Vijayan-Led LDF Likely To Return To Power As part of its poverty alleviation programme, the LDF manifesto promises to …

Kerala: Welfare Pension Hiked, Relief Measures for Farmers in Left Govt's Final Budget
3 years, 11 months ago

Kerala: Welfare Pension Hiked, Relief Measures for Farmers in Left Govt's Final Budget

News 18  

Hike in welfare pensions and relief measures for farmers were proposed in the Kerala 2021-22 budget presented on Friday by Finance Minister T M Thomas Isaac. Though Isaac would present the last budget as a full- fledge one, the House would pass only a vote-on-account for four months as the tenure of the present government would end soon. Giving thrust …

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