Kerala budget 2024-25 proposes to draw private investments in key sectors
Presenting the budget, state finance minister Balagopal said the government aims to attract an investment of Rs 3 lakh crore to the state in the next three years.
Kerala finance minister K N Balagopal on Wednesday reiterated that the government would not withdraw the budget proposal levying cess on the sale of petrol, diesel, liquor and other proposed taxes.
Turning down the Opposition’s demand to roll back the budget proposals to impose cess on petrol, diesel and other “back-breaking’ taxes, Balagopal said there won’t be any change in the tax proposals announced in the budget.
“There won’t be any change in the additional resource mobilisation plan,” the finance minister asserted in his reply to the budget debate justifying the social security cess imposed on petrol and liquor saying it is inevitable to ensure the uninterrupted distribution of monthly social security pension to more than 60 lakh beneficiaries in the state and for the progress of Kerala. He added that the state cannot move forward without increasing taxes.
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With this, all tax hikes, including an increase in fuel cess by two rupees and a 20 percent increase in the fair value of land, will come into effect in the next financial year.
Following the finance minister’s announcement, the Opposition staged a walkout in the House, raising slogans against the LDF government.
Slamming the tax proposals in the Budget, Leader of the Opposition VD Satheesan said that each family in the state would incur an additional expenditure up to Rs 4,000 due to the tax proposals in the budget. The state budget has dampened the market.
Responding to finance minister’s announcement that the government would not withdraw the tax proposals, VD Satheesan said the Opposition would continue its agitations both inside and outside the Assembly till the government withdraws the anti-people cess and taxes.
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