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Kerala Kaumudi Online
Monday, 04 March 2024 8.11 AM IST

Kerala Budget: Common man to bear brunt as fuel prices, building tax, electricity duty shoot up

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THIRUVANANTHAPURAM: Aiming for a significant increase in revenue, the Kerala Budget 2023 introduced reforms in several taxes. Along with the hike in building tax, a separate tax will be imposed on vacant buildings and if a person owns more than one house. The finance minister said that local self-government bodies will get an additional revenue of thousand crores through these tax reforms.

Coming to vehicles, tax will be increased by two percent for motorcycles worth up to Rs 2 lakh, There will be a tax increase of one percent for cars priced up to Rs 5 lakh and two percent for cars priced between Rs 5 lakhs and 15 lakhs. Tax for cars priced between Rs 15 lakh and Rs 20 lakh will be increased by one percent. The government targets an additional income of 340 crores through these reforms,

Burden for the common man

The prices of petrol and diesel have been increased by Rs 2 per litre through the imposition of social security cess. With this, the stage is set for a huge increase in the price of essentials. The electricity tariff has also been increased. Electricity duty has increased by 5 percent for commercial and industrial units.

Liquor price-govt's go-to punching bag

There will be an increase of Rs 20 for Indian-made foreign liquor priced between Rs 500 and Rs 999 and Rs 40 for liquor above Rs 1000. This is to mobilize additional resources through the Social Security Seed Fund. This amount will be used to provide social security to the weaker sections. A new social security cess has also been imposed on alcohol.

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TAGS: KERALA BUDGET, FUEL PRICES, BUILDING TAX, ELECTRICITY DUTY, KN BALAGOPAL
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