Salary restriction to continue in new FY, Kerala treasury in overdraft

THIRUVANANTHAPURAM: The restriction imposed on withdrawal of employees' salaries is likely to continue in the new financial year as well. Although the government says it will start disbursing salaries from tomorrow, the ban on withdrawing more than a maximum of Rs 50,000 in one go remains in place.

It is estimated that the expenditure of Rs 26,000 crore has been incurred in the treasury in March. An additional expenditure of rS 7500 crores has been announced to provide some benefits after the election.

It is learned that the money for salary and pension has been found through the Co-operative Bank Consortium as loans can be taken in the new financial year. Rs 5666 crore is required for this alone. Pensioners have been assured that the third installment of dues related to wage revision will be paid this month. It will require about 2000 crores. It was announced that two installments of social security pension will be distributed before Vishu and Ramzan. Ramzan is on April 12. Distribution should start at least on April 8. Rs 1804 crores is needed for that.

Loan approval takes two weeks

1. New loans can be taken only after notification of the central government fixing the loan schedule in the new financial year. It will take two weeks.

2. Financial year 2023-24 ends today with overdraft. The government had to go into an overdraft of Rs. 3000 crores for the expenses of this March, which should be repaid within two weeks.

3. 3 percent of GDP can be borrowed. The current GDP is 12 lakh crores. Three percent of it will be around Rs 40,000 crores. What is to be known is how much the Centre will reduce.

Fair price of land will change from tomorrow

The tax changes announced in the budget will come into effect from tomorrow. The fair value of land will vary depending on what the land is used for and the land tax will also vary. Stamp duty on lease agreements will increase.

#Stamp duty, court charges, vehicle tax, price of Indian-made foreign liquor will increase

#Debit Card maintenance charge to go up to Rs 200 from Rs 125

# 0.1% of loan amount should be given as verification fee of land documents

# Tariff for power generators including solar will be 1.2 paise to 15 paise per unit

# Residents of flats have to pay tax on the undivided land on which the flats stand