Kochi: Even as Kerala Finance Minister K N Balagopal claimed that the state is free from financial strain, the Left government increased land tax by 50 per cent in the state Budget 2025 presented on Friday, media reports said.
Announcing the hike, he said the increase in tax is expected to bring an additional income of Rs 100 crore for the state.
Projects have been announced for Kollam and Kannur represented by Balagopal and Chief Minister Pinarayi Vijayan, respectively.
The court fees has been increase to get al revenue of Rs 150 crore. Taxes on electric vehicles and contract carriage vehicles have been increased to get an estimatedl revenue of Rs 15 crore.
The budget proposed a 50% hike in taxes for motorcycles, three-wheelers, and other private vehicles older than 15 years.
Taxes on stage carriage vehicles have been reduced by 10%.
A total of Rs 750 crore have been allocated to rehabilitate the people hit by Wayanad landslides in the first phase of the project.
The budget has announced final instalment of Rs 600 crore for the Service Pension revision to be paid in February. The remaining two instalments of the salary revision arrears will be merged into the Provident Fund later.
Steps will be taken to release the two pending instalments of Dearness Allowance arrears.
A total of Rs 178.94 crore has been allocated for KSRTC..A total of Rs 107 crore set aside for purchasing buses for KSRTC. Land acquisition will also take place every 25 km along the coastal highway along the coastal highway and Rs 500 crore has been allocated for the development of inland waterway.
An initiative aimed at realising the potential of vacant houses in Kerala and improving tourism has been announced.
The pilot project will be implemented within a 10 km radius of tourist areas like Fort Kochi, Kumarakam.and Kovalam. Rs 5 crore have been allocated for its initial expenses.
In a bid to generate revenue and promote IT infrastructure, an IT park will be set up in Kollam Corporation’s land in collaboration with KINFRA and KIIFB. The Finance Department has also set aside Rs 293.22 crore for an IT park in Kannur, the reports said.
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