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Liquor, cigarettes to cost more in Kerala
Kerala government on Monday proposed to mobilise Rs 1,512.05 crore as additional resources taxing tobacco products, liquor, motor vehicles and plastic bags to back up a set of infrastructure and welfare projects in 2012-13.
Thiruvananthapuram: Kerala`s Congress-led
UDF government on Monday proposed to mobilise Rs 1,512.05 crore as
additional resources taxing tobacco products, liquor, motor
vehicles and plastic bags to back up a set of infrastructure
and welfare projects in 2012-13.
In his Budget presented in the Assembly, Finance Minister K M Mani brought cheer to nearly five lakh government employees and teachers by raising retirement age from 55 to 56 years, which led to vociferous protests by opposition CPI(M)-led LDF.
LDF members sat in the well of the House and kept chanting slogans, alleging that vital Budget proposals, including raising pension age, had already been carried by a section of the press which amounted to `compromising` the secrecy of Budget. The Budget effected a general hike of one per cent in VAT on a variety of items while sharply reducing levy on essentials like pulses, chilly, edible oils and flour from four to one per cent. The Budget also exempted these items from the one per cent social security cess.
The Finance Minister anticipated an additional revenue of Rs 1,000 crore through rationalisation of VAT itself.
The Budget sharply increased tax on tobacco products, except beedi, from 12.5 per cent to 15 per cent, social security cess on foreign liquor from 6 to 10 per cent and levy on pan masala and similar items from 20 per cent 22.5 per cent to generate a total revenue of Rs 166 crore. It rationalised private motor vehicle tax to make it on par with rates in other southern states based on four price categories of vehicles, which is expected to net Rs 115 crore.
The Budget made tax-free costly surgical items like heart valve, cardiac stent and intra occular lense.
Entering its second year, the government effected across the board increase in welfare pensions and identified seven areas of development to promote infrastructure growth through public private participation mode.
The Budget anticipated fiscal 2012-13 to close with a deficit of Rs 289.25 crore while setting a revenue target of Rs 48,120.34 crore and expenditure of Rs 51,605.36 crore.
PTI
In his Budget presented in the Assembly, Finance Minister K M Mani brought cheer to nearly five lakh government employees and teachers by raising retirement age from 55 to 56 years, which led to vociferous protests by opposition CPI(M)-led LDF.
LDF members sat in the well of the House and kept chanting slogans, alleging that vital Budget proposals, including raising pension age, had already been carried by a section of the press which amounted to `compromising` the secrecy of Budget. The Budget effected a general hike of one per cent in VAT on a variety of items while sharply reducing levy on essentials like pulses, chilly, edible oils and flour from four to one per cent. The Budget also exempted these items from the one per cent social security cess.
The Finance Minister anticipated an additional revenue of Rs 1,000 crore through rationalisation of VAT itself.
The Budget sharply increased tax on tobacco products, except beedi, from 12.5 per cent to 15 per cent, social security cess on foreign liquor from 6 to 10 per cent and levy on pan masala and similar items from 20 per cent 22.5 per cent to generate a total revenue of Rs 166 crore. It rationalised private motor vehicle tax to make it on par with rates in other southern states based on four price categories of vehicles, which is expected to net Rs 115 crore.
The Budget made tax-free costly surgical items like heart valve, cardiac stent and intra occular lense.
Entering its second year, the government effected across the board increase in welfare pensions and identified seven areas of development to promote infrastructure growth through public private participation mode.
The Budget anticipated fiscal 2012-13 to close with a deficit of Rs 289.25 crore while setting a revenue target of Rs 48,120.34 crore and expenditure of Rs 51,605.36 crore.
PTI