Thiruvananthapuram: Kerala State Finance Minister KN Balagopal presented the state budget today for the 2024-25 financial year in the State Legislative Assembly. However, the budget is anticipated to bring added challenges for the people of Kerala, as various prices and fees are set to increase. The focus of the Kerala state budget is on generating maximum revenue to address the severe financial crisis confronting the state.
Interestingly, there is no mention of an increase in social welfare pension, but Rs 10 crore has been allocated for the extravagant ‘Keraleeyam’ celebration. Reports suggesting a 15 paisa per unit increase in electricity fare charges are causing severe financial concern. The duty charged for each unit of electricity sold by licensees has been raised from 6 paisa to 10 paisa, projecting an additional revenue of Rs 101.41 crore.
The budget also reveals an increase in Court Fee charges and the imposition of land tax on residents of flats and apartments, along with a hike in lease stamp duty charges. The rise in liquor prices, particularly Indian Made Foreign Liquor, is notable, with an additional cost of Rs 10. The state expects to generate Rs 200 crore in income through the fixed galvanization fee of Rs 10 per litre on Indian-Made Foreign Liquor.
Economic experts reports that in an effort to address the severe financial crisis, the Kerala government plans to collect more revenue from the citizens through increased taxes and fees.
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