Kerala’s Alcohol Prices Surge
The recent budget session in Kerala has led to a surge in prices of certain commodities and services. The left-wing coalition government in Kerala presented its budget today, announcing an increase in the prices of alcohol and court fees.
Alcohol Prices Hike
Finance Minister N. Balagopal, while presenting the fourth budget for the Pinarayi Vijayan-led government, announced a hike in excise duty on Indian-made foreign liquor (IMFL) by Rs. 10 per liter to generate revenue of Rs. 200 crores. He stated, “The excise law allows for a gallonage fee of up to Rs. 30 per liter on the sale of Indian-made foreign liquor. It has been fixed at Rs. 10 per liter.” This move is anticipated to bring in additional revenue of Rs. 200 crores.
Increased Charges on Electricity Generation
Furthermore, the budget for the fiscal year 2024-25 has raised the judicial fee and electricity charges for self-generating individuals. A proposal to increase electricity charges by 15 paise per unit for consumers producing and consuming energy for their own use has been included in the budget. This is expected to generate an additional revenue of Rs. 24-25 crores. The Finance Minister stated, “Electricity charges are being levied at a rate of six paise per unit since 1963. It has been increased to ten paise per unit. We expect to receive an additional revenue of Rs. 101.41 crores.”
Amendments in Court Fees
To explore avenues for collecting more revenue from the sector, Kerala will consider amendments to the Kerala Court Fees and Suit Valuation Act, 1959. “Through these amendments, the government expects to earn revenue of Rs. 50 crores,” stated Balagopal.
Minimum Support Price for Rubber Increased
In the budget for the fiscal year 2024-25, Rs. 1,698.30 crores have been allocated for the agricultural sector, with the minimum support price for rubber being raised from Rs. 170 to Rs. 180. Amidst growing demands from rubber farmers for an increase in its support price, Balagopal announced a hike of Rs. 10 in its support price. He said, “The minimum support price for rubber has been increased from Rs. 170 to Rs. 180.” A separate allocation of Rs. 1,698 crores will be reserved for traditional agricultural sectors.
Allocation for Poverty Alleviation and Cooperative Sector
An allocation of Rs. 50 crores has been set aside for poverty alleviation, along with Rs. 134.42 crores for the cooperative sector.
Investment Attraction in Tourism Sector
A sum of Rs. 5,000 crores will be attracted as investment in the tourism sector. “The tourism sector is growing. An allocation of Rs. 351 crores is being made for it in the fiscal year 2024-25.”
Allocation for Digital University
In a bid to provide more support to the higher education sector, the minister earmarked Rs. 250 crores for the digital university.
Continued Efforts in Infrastructure Projects
He further added, “Our efforts to materialize the state rail project will continue. Discussions with the central government are ongoing in this regard.” A sum of Rs. 300.73 crores has been earmarked for the timely implementation of major projects such as Vizhinjam Port, Kochi Metro, and Kannur Airport.
Commitment to Investment
While presenting the fourth budget for the state government, Chief Minister Pinarayi Vijayan emphasized that despite facing economic challenges and central financial constraints, the Left Democratic Front government will not compromise on the development front. The Finance Minister stated that over the next three years, the southern state will witness an investment of three lakh crores. He also held the central government’s economic policies responsible for the financial woes of the southern state and alleged neglect of Kerala.
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