Rising Alcohol Prices in Kerala
In a recent budget session, the Kerala government presented its budget, introducing hikes in prices for various goods and services. Notably, the Left Democratic Front (LDF) government in Kerala proposed an increase in the prices of alcohol and judicial fees during the budget presentation.
Hike in Alcohol Prices
Finance Minister KN Balagopal, presenting the state’s fourth budget, announced an increase of Rs. 10 per liter in the excise duty on Indian-made foreign liquor (IMFL) to generate revenue of Rs. 200 crores. Balagopal stated, “The excise law allows levying a gallonage fee of up to Rs. 30 per liter on the sale of IMFL produced domestically. It has been fixed at Rs. 10 per liter.” The government anticipates an additional revenue of Rs. 200 crores from this measure.
Rising Electricity Charges
Additionally, the budget for the fiscal year 2024-25 introduced hikes in court fees and electricity charges for those generating their own electricity. The proposal includes an increase of 15 paise per unit in electricity charges for such consumers, aimed at garnering an extra revenue of Rs. 24-25 crores. Balagopal stated, “Electricity charges are being levied at a rate of six paise per unit on the sale of electricity since 1963. This has been increased to ten paise per unit. We expect to gain an additional revenue of Rs. 101.41 crores.”
Revision in Court Fees
Balagopal announced amendments to the Kerala Court Fees and Suits Valuation Act, 1959, to explore avenues for generating additional revenue. He said, “Through these amendments, the government expects to generate revenue of Rs. 50 crores.”
Boosting Agricultural Sector
The budget allocated Rs. 1,698.30 crores for the agricultural sector, raising the minimum support price (MSP) for rubber from Rs. 170 to Rs. 180 per kilogram. Amidst increasing demands from rubber farmers for a higher MSP, Balagopal announced an increase of Rs. 10 in its support price.
Efforts for Poverty Alleviation
A separate fund of Rs. 50 crores was earmarked for extreme poverty alleviation, along with Rs. 134.42 crores for the cooperative sector.
Attracting Investment in Tourism Sector
An investment of Rs. 5000 crores is proposed to be attracted in the tourism sector. Balagopal emphasized, “The tourism sector is flourishing. Rs. 351 crores are being allocated for it in the fiscal year 2024-25.”
Allocation for Digital University
In a bid to support higher education, the minister earmarked Rs. 250 crores for the establishment of a digital university.
Continued Efforts for Infrastructure Development
The minister affirmed the government’s commitment to realize projects like the Vizhinjam Port, Kochi Metro, and Kannur International Airport, allocating Rs. 300.73 crores for their timely execution.
Future Investment Plans
Chief Minister Pinarayi Vijayan, while presenting the fourth budget for the government, reiterated the commitment to development despite facing economic challenges and central financial restrictions. He emphasized that the LDF government would not compromise on the development front. Vijayan stated that over the next three years, the southern state plans to attract investments worth Rs. 3 lakh crores. He held both the central government’s economic policies and Kerala’s alleged neglect responsible for the state’s financial woes.
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