• 2% for life-saving drugs
• 10-12% increase possible for other drugs

THIRUVANANTHAPURAM: With the tax increase announced in the central and state budgets and the price of life-saving medicines increasing, there will be a huge increase in prices in all sectors of the state from April 1. This will seriously affect the lives of common people.

Last year, the Center had approved an annual increase of up to 12.12% in the wholesale price index of medicines. Accordingly, the price of 384 molecules, which are used to make nearly 900 medicines, will rise significantly, leading to a 2% increase in the cost of life-saving medicines.

The Rs 2 per liter fuel cess in the state budget will affect the freight sector. It will lead to an increase in the price of essential commodities. The fair value of the land will increase by 20 percent. Accordingly, there will be an increase in the registration fee. Court fee stamps will also add to the stamp duty of flats. Building taxes and building permit fees will increase. Electricity tariff will also change.

According to the central budget, the prices of gold, silver, gems, clothes and umbrellas will increase. With the increase in basic customs duty on gold bars, the price of gold will rise again. The price of liquor will increase through the state budget and the price of cigarettes through the central budget.

Medicines whose prices will go up

Life-saving drugs, painkillers, heart disease drugs, antibiotics, and preventive drugs. The price hike of such drugs will be limited to 2% if they are included in the National Pharmaceutical Pricing Authority's list of life-saving drugs.

Vehicle prices will also increase

1. In the Union Budget: Customs duty on imported luxury cars and electric vehicles has been increased from 60 to 70 percent. The cost will increase by Rs 10,000 to Rs 30,000 since the vehicles have to be equipped with an onboard diagnostic device that checks the pollution in real time. Rs 2500 more will have to payed for entry-level scooters.
2. In the state budget: 1% for vehicles worth up to 5 lakhs, 2% for those between 5 to 15 lakhs, and a one percent increase in tax above that. Through this, vehicle prices will increase by up to Rs. 30,000.