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 is doing everything it can to handle the crisis caused by the Centre's reduction in tax allocations and debt limits. Balagopal, who is also a senior CPI leader, said that Kerala successfully brought national attention to the Centre's alleged discriminatory approach by mobilizing the state's people and organizing a protest in New Delhi, led by the Chief Minister and including ministers and people's representatives. In the FB post, he also mentioned the state government's legal battle in the Supreme Court to secure its rights from the Centre.

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History of this topic

TN's contribution to Indian economy better, GSDP up by 14 per cent: CAG
1 week, 5 days ago

TN's contribution to Indian economy better, GSDP up by 14 per cent: CAG

Deccan Chronicle  

With its per capita income far exceeding the national average, Tamil Nadu was faring better in its contribution to national economy and the state's industries and services sectors played a pivotal role in increasing the Gross State Domestic Product by 14 per cent in 2022-2023 amounting to Rs 23,64,514 crore, Principal Accountant General, Tamil Nadu, D Jaishankar said on Tuesday.As …

Thiruvananthapuram corporations' allocated revenue deficit for 2023-24 was highest in Kerala: RBI
1 month, 1 week ago

Thiruvananthapuram corporations' allocated revenue deficit for 2023-24 was highest in Kerala: RBI

New Indian Express  

THIRUVANANTHAPURAM: Municipal corporations in Kerala budgeted the highest aggregate revenue deficit for 2023-24, according to the Reserve Bank of India’s ‘Report on Municipal Finances’ released on Wednesday. Civic bodies in Maharashtra budgeted the highest revenue surplus of Rs 11,104 crore in the same fiscal year. Besides Kerala, only seven other states posted a revenue deficit: Uttar Pradesh, Jammu and Kashmir, …

Tamil Nadu’s own tax revenue grew 14% in H1, 2024-25: CAG
1 month, 2 weeks ago

Tamil Nadu’s own tax revenue grew 14% in H1, 2024-25: CAG

The Hindu  

Tamil Nadu’s Own Tax Revenue grew about 14% to ₹86,975.28 crore in the first half of fiscal 2024-25 from ₹76,257.13 crore in the first half of 2023-24, according to the provisional figures from the Comptroller and Auditor-General. Among the SOTR components, the State Goods and Services Tax collection grew 20.12% to ₹35,414.05 crore in the first half of 2024-25 from …

Kerala Govt to Implement Projects Worth Rs 13,013 crore in 100 Days: CM Vijayan
5 months, 1 week ago

Kerala Govt to Implement Projects Worth Rs 13,013 crore in 100 Days: CM Vijayan

Deccan Chronicle  

Thiruvananthapuram: The Left Democratic Front government in Kerala will implement development projects worth Rs 13,013.40 crore in 100 days as part of its third anniversary, Chief Minister Pinarayi Vijayan announced on Tuesday. A total of 1,070 projects under 47 departments have been included in the latest 100-day initiative, Vijayan said in a statement. The fourth edition of the 100-day programme, …

Kerala startup ecosystem registers 254 per cent growth: Study
6 months, 1 week ago

Kerala startup ecosystem registers 254 per cent growth: Study

New Indian Express  

KOCHI: According to The Global Startup Ecosystem Report 2024 released by a leading development organisation, the value of Kerala’s startup ecosystem has shown a compound growth of 254% between July 1, 2021, to December 31, 2023, compared to the July 1, 2019, -December 31, 2021, period. The extensive analysis is done with data from 4.5 million startups across 300 global …

Tamil Nadu presents ₹3.48L cr budget; focus on infra, ‘7 Tamil dreams’
10 months ago

Tamil Nadu presents ₹3.48L cr budget; focus on infra, ‘7 Tamil dreams’

Hindustan Times  

Tamil Nadu finance minister Thangam Thennrasu on Monday presented the state budget for 2024-25 announcing a total outlay of ₹3.48 lakh crore, along with a revenue deficit of over ₹49,000 crore as the government promised an increased focus on infrastructure and expanding welfare schemes encompassing “seven Tamil dreams” with no new populist announcement, aiming at fiscal prudence. The alleged “inordinate …

Seven ideals form bedrock of Tamil Nadu Budget 2024
10 months ago

Seven ideals form bedrock of Tamil Nadu Budget 2024

The Hindu  

A scheme to provide ₹1,000 a month to boys who have studied in government schools from classes 6 to 12 and are pursuing higher education, a scheme named after former Chief Minister M. Karunanidhi to provide housing for the poor with an outlay of ₹3,500 crore and the Chief Minister’s Thayumanavar scheme for poverty alleviation are among the major announcements …

Siddaramaiah presents Budget for 15th time in Karnataka
10 months, 1 week ago

Siddaramaiah presents Budget for 15th time in Karnataka

Deccan Chronicle  

BENGALURU: Chief Minister Siddaramaiah on Friday presented State budget 2024-25 which was his 15th budget presentation in his political career and in the budget presented the Chief Minister holding Finance ministry, stated that the total expenditure for the financial year is estimated to be Rs 3, 71, 383 crore which includes Revenue expenditure of Rs 2, 90, 531 crore, capital …

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 …

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 …

Sluggish pace of growth in revenue receipts in Telangana continue at the end of Q3
10 months, 3 weeks ago

Sluggish pace of growth in revenue receipts in Telangana continue at the end of Q3

The Hindu  

The sluggish pace of growth in the revenue receipts in Telanganacontinued at the end of the third quarter of the current financial year with overallrevenue receipts pegged at ₹1.25 lakh crore, 57% of the ₹2.16 lakh crore projected in the budget estimates. Tax revenue has shown some improvement since the past few months reaching ₹99,693 crore, 65.37 % at the …

Kerala’s public debt comes down to ₹2.38 lakh crore
10 months, 3 weeks ago

Kerala’s public debt comes down to ₹2.38 lakh crore

The Hindu  

Amid the financial strains that put the Kerala government in a fix making it difficult for it to meet its fiscal obligations efficiently, a document tabled by Finance Minister K.N. Balagopal in the Assembly on Tuesday revealed that the State’s public debt has come down to ₹2.38 lakh crore at the end of March 2022-2023. As per the accounts of …

Consistent increase in 2023-24 revenue collections: UP govt
1 year ago

Consistent increase in 2023-24 revenue collections: UP govt

Hindustan Times  

LUCKNOW The UP government on Tuesday claimed a consistent increase in its revenue receipts with a collection of ₹2,580.78 crore more in November this year. We have maintained transparency in the release of data about tax and non-tax collections,” said minister for revenue Suresh Khanna while releasing the details about the state government’s total revenue collections. The state government’s non-tax …

Industrial investments: The Kerala story
1 year, 6 months ago

Industrial investments: The Kerala story

The Hindu  

The incongruence between Kerala’s social and economic development has been a part of discourses on development trajectories. A combination of right policies, institutional support and the ramping up of necessary infrastructure could mark the beginning of a new Kerala story — that of a State pursuing late industrialisation. Analysis of data published by the Annual Survey of Industries for the …

The Kerala Story collects ₹178 cr, aims to cross ₹200 crore now
1 year, 7 months ago

The Kerala Story collects ₹178 cr, aims to cross ₹200 crore now

Hindustan Times  

The Kerala Story is running in its third week, but continues to hold its ground at the ticket counters. The film has made ₹178 crore at the box office and is now aiming for the ₹200 crore mark. Directed by Sudipto Sen and produced by Vipul Shah, The Kerala Story stars Adah Sharma, Sonia Balani, Yogita Bihani and Siddhi Idnani …

Measures to make T.N. revenue-neutral to be keenly watched
1 year, 9 months ago

Measures to make T.N. revenue-neutral to be keenly watched

The Hindu  

Apart from the anticipation of an announcement on the monthly honorarium of ₹1,000 for women family heads, measures to achieve the goal of making the State revenue-neutral in three years would be keenly watched in the Tamil Nadu Budget for 2023-24 to be presented by Finance Minister Palanivel Thiaga Rajan on Monday. As per the provisional figures of the Comptroller …

AP Budget is realistic: Govt does a poll vault, gives more funds to welfare
1 year, 9 months ago

AP Budget is realistic: Govt does a poll vault, gives more funds to welfare

Deccan Chronicle  

Jagan Mohan Reddy-led government on Thursday presented the state Budget for 2023-2024 with a massive outlay of Rs 2.79 lakh crore of which more than 70 per cent will be mobilised from the state's own revenues, devolution of Central taxes and grants-in-aid. “Significantly, the Jagan Mohan Reddy government increased its expenditure by a whopping Rs 50,000 crore this year compared …

Why Kerala’s tax rate hikes appear compelling
1 year, 10 months ago

Why Kerala’s tax rate hikes appear compelling

The Hindu  

Kerala’s Budget 2023 presented by Finance Minister K. N. Balagopal on February 3, 2023 focussed on revenue mobilisation. In addition to tax rate hikes, Budget 2023 has also focussed on non-tax revenue mobilisation, including raising revenue from revising the royalty rates of minor minerals and increasing the user charges. The hikes in tax rates were to identify fiscal space amidst …

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 …

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 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 …

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 …

Data | Poor revenues, higher spending increased debt burden of ten Indian States
2 years, 5 months ago

Data | Poor revenues, higher spending increased debt burden of ten Indian States

The Hindu  

The pandemic has worsened the fiscal positions of State governments. The revenue expenditure of many of these States constitute 80-90% of the total expenses and therefore they have poor capital spending. Within own tax revenue, States’ goods and services tax, States’ excise duties and sales tax are the major sources of revenue High revenue expenditure The share of revenue expenditure …

Sri Lanka hikes tax rates to maximise government revenues
2 years, 6 months ago

Sri Lanka hikes tax rates to maximise government revenues

The Hindu  

Sri Lanka's cash-strapped government on Tuesday announced a taxation overhaul to boost revenue amid the country's crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the relief given to individual taxpayers. "The implementation of a strong fiscal consolidation plan is imperative through revenue enhancement as well as expenditure rationalization measures in 2022," Mr. Wickremesinghe's office said …

Sri Lanka hikes tax rates to boost government revenues
2 years, 6 months ago

Sri Lanka hikes tax rates to boost government revenues

Al Jazeera  

The crisis-hit country’s inflation rose to 39.1 percent in May, its statistics office said on Tuesday. Sri Lanka’s cash-strapped government has announced a taxation overhaul to boost revenue amid the country’s crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the relief given to individual taxpayers. Sri Lanka’s inflation rose to 39.1 percent in May, its …

Andhra Pradesh's revenue deficit soars 662 per cent in H1
3 years, 1 month ago

Andhra Pradesh's revenue deficit soars 662 per cent in H1

Deccan Chronicle  

Amaravati: Andhra Pradesh's revenue deficit soared by an unprecedented 662.80 per cent while the fiscal deficit was up 107.79 per cent in the first half of the 2021-'22 financial year. According to CAG's accounts for the first half of the fiscal, AP's total receipts touched 1,04,804.91 crore, including Rs 39,914.18 crore borrowings. In the first half of the current fiscal, …

Kerala Elections 2021: Pinarayi Vijayan Gets Richer by Rs 11.59 Lakh, His Predecessor’s Assets Up by Rs 3.31 Crore
3 years, 8 months ago

Kerala Elections 2021: Pinarayi Vijayan Gets Richer by Rs 11.59 Lakh, His Predecessor’s Assets Up by Rs 3.31 Crore

News 18  

The income of incumbent Kerala Chief Minister Pinarayi Vijayan has increased by Rs 11.59 lakh between 2016-2021, while his predecessor and Congress leader Oommen Chandy has witnessed a jump of Rs 3.31 crore, according to a report released by Kerala Election Watch and Association for Democratic Reforms on Sunday. The report also mentioned that the assets of Chandy, a Congress …

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