The increase in liquor prices is a result of the Abkari law, which allows for a gallonage fee of up to Rs 30 per litre on the sale of Indian-made foreign liquor. The fee has now been set at Rs 10 per litre, with the expectation of generating an additional revenue of Rs 200 crore. Similarly, the electricity duty for consumers who generate and consume their own energy has been raised by 15 paise per unit, with the goal of generating an additional revenue of Rs 24 crore.
The budget also includes plans to enhance the Kerala Court Fees and Suits Valuation Act, 1959, in order to find ways to mobilize more revenue from this area. The government expects to generate a revenue of Rs 50 crore through these amendments. Although there were expectations of an increase in social welfare pensions, the minister has decided not to hike them, but has assured timely payments for the next year.
The struggling agriculture sector has been allocated Rs 1,698.30 crore, with an increase in the minimum support price for rubber from Rs 170 to Rs 180. Additionally, Rs 50 crore has been set aside for extreme poverty eradication, and Rs 134.42 crore has been announced for the cooperative sector.
Despite facing economic challenges and alleged financial restrictions imposed by the central government, the Left Democratic Front (LDF) government in Kerala remains committed to development. The finance minister has stated that investments worth Rs 3 lakh crore will be brought to the state in the next three years. The traditional agricultural sector will receive Rs 1,698 crore, while the tourism sector aims to attract investments worth Rs 5,000 crore, with an allocation of Rs 351 crore for fiscal year 2024-25.
In response to the demand from rubber farmers, the minimum support price for rubber has been increased by Rs 10. The minister has also allocated Rs 250 crore for the Digital University to support higher education. Furthermore, the minister emphasized the importance of the high-speed rail system for the future development of the state, along with the ongoing efforts to realize the K-Rail project through discussions with the central government.A sum of Rs 300.73 crore has been earmarked for the smooth and timely execution of major projects, including the Vizhinjam Port, Cochin Metro, and Kannur Airport. The minister has also criticized the central government’s economic policies and alleged neglect of Kerala as contributing factors to the state’s financial problems.
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