Kerala finance minister Thomas Isaac, while presenting the budget, said Tirupati mode development projects would be implemented in Sabarimala temple.
Thiruvananthapuram: Kerala finance minister Thomas Isaac presented the state budget for the year 2019-2020. This was the 10th budget that presented by the MLA.
The state government has declared many programmes for young entrepreneurs, who are planning to start new business ventures. Finance minister Thomas Isaac said that Rs 70 crore would be given for starting up new business ventures.
He also said Rs 739 crore would be allotted for developmental projects in Sabarimala. Isaac, while presenting budget, said Tirupati mode development projects would be implemented in Sabarimala.
Tax on liquor was increased by 2% and 10% on film tickets — 10 % entertainment tax would be imposed on movies.
With the increase in tax on liquor, the price of all kinds of liquor including beer and wine will rise.
The minister ended his budget presentation after imposing 1% cess for all except small scale products for two years.
The price of cement, soft drinks, hair oil, tooth paste, TV, school bags, computer, fast bikes, notebooks, granite, car, ac, fridge, cigarette, specs, bamboo products and ceramic tiles will increase.
Gold, silver ornaments have been slapped with 0.25% cess. 6 % sales tax on earnings in the Rs 20-60 lakh bracket has been announced.
Tax on luxurious houses have been increased. The additional tax will be imposed on houses of more than 3000 sq feet. 6 % service tax has been imposed for those having an annual income of Rs 20 lakh to 50 lakh.
GST revenue has been increased to 30% from 10%. Revenue from lottery to touch Rs 11,863 crore in 2019-20.
Rs 278 crore has been announced for Kerala tourism.
Integrated health insurance scheme will also be started this year. This will serve as new insurance cover for all families.
Rs 25 crore has been earmarked under Santhwanam project to assist NRIs, who have lost jobs. Rs 1,000 crore has been announced for Kudumbashree mission. Rs 20 crore has been allotted for hunger-free Kerala.
Kergramam project to get Rs 40 crores, where nearly 10 lakh saplings will be distributed under this scheme.
Rs 12 crore has been allocated to e-mobility fund. Electric vehicles to get tax exemptions. The finance minister has also announced 10 lakh electric vehicles by 2022. Kerala State Road Transport Corporation (KSRTC) to switch to electric buses.
Read Exclusive COVID-19 Coronavirus News updates, at MyNation.