KERALA BUDGET 2023- 24
1. Estimated budget Revenue Rs 1,35,419 crores; Expenditure Rs 1,76,089 crores
2. Revenue Deficit - Rs 23,942 crore (2.1% of GSDP)
3. Fiscal deficit - Rs 39,662 crore (3.5% of GSDP)
4. Rs 40,051 crore for Salaries, Rs 28,240 crore for Pensions and Rs 2190 crore for Subsidies.
5. 14,149 crores for Local bodies
6. 260 crores for Kudumbashree
7. Social Security Pension Rs.9764 crores
8. Rs 1436 crores toward Life Mission Project for construction of 71,861 houses and 30 housing complexes .
9. Make in Kerala scheme will be implemented to increase domestic production and employment/entrepreneurial/investment opportunities in Kerala. Rs 1000 crores set aside for this.
10. Rs . 2000 crores to control inflation
11. Rs 600 crores to prevent fall in rubber prices
12. The procurement price for coconut has been increased to Rs.34
13. Rs.38 Crores toward Price Stabilization Fund of coir products Products and coconut fibre(chakiree)
14. Cashew sector revival package Rs. 30 crores
15. 43.55 crores for Revolving Fund to Cashew Board
16. Gap Fund of Rs 50 Crores for alleviation of etreme Poverty
17. Nerkazhcha(Vision) Project for eye care for all.
18. Rs 50.85 Crores for activities toward mitigating human-wildlife conflict.
19. Rs. 230 crores as State contribution toward Rural Employment Guarantee Scheme
20. Rs. 65 lakh employment days will be created under the Ayyankali Employment Guarantee Scheme.
21. Rs. 15 crore corpus fund to mitigate high air fares of Gulf Malayalis
22. Rs 75 crore each for Idukki, Wayanad and Kasaragod development packages.
23. Rs. 300 crores for construction of new power substations and lines.
24. Investment of Rs 10,000 crores for 1st phase of Kochi - Palakkad Industrial Corridor that’s estimated to generate 1 lakh jobs t in 5 Years
25. Rs 100 crore for K-Phone and Rs 2 crore for providing free home internet connection
26. Rs 71.84 crores for Kerala Space Park
27. Rs 90.52 crores for Start Up Mission
28. Rs 40.5 crores for development of shipping infrastructure at Azhikal, Beypur, Kollam, Vizhinjam and Ponnani.
29. Greenfield International Port costing Rs 3698 crore at Azhikal.
30. Rs 765.44 crores toward upgrading Punalur - Ponkunnam Road to EPC model.
31. Rs .1031 crore for KSRTC inclusive of plan share.
32. Rs. 362.15 crore for tourism sector
33. Kappad History Museum will be set up at a cost of Rs.10 crores.
34. RCC to be upgraded as State Cancer Centre.
35. Academic complex with modern facilities at Thalassery Brennan College
36. Rs 13 crores in Diamond Jubilee Fellowship for young artistes
37. Rs 5.5 crores for setting up heritage museums in districts
38. Rs.5 crores for setting up 'Kallumala Samara Square' at Kollam artillery grounds
39. Mobile app shall will be developed to connect cinema theaters in the State.
40. Indigenous vaccine against rabies will be developed
41. Nursing colleges will be started in association with all Taluk hospitals of the state.
42. Plantation Workers' Relief Fund Rs.1.10 crores
43. Rs.10 crores for improvement of facilities in plantation workers' clubs.
44. Rs. 90 crores for providing Rs 1250.45 in monetary aid to workers in traditional employment sectors.
45. Rs.6.8 crores for Sayamprabha scheme for wellbeing of elderly citizens and Rs.27.5 crores for Vayomitram scheme.
46. Rs. 9 crores for Barrier Free Kerala project to make government offices disabled-friendly
47. Rs 10 crores for promoting the use of menstrual cup
48. Rs.63.5 crores to provide eggs and milk to Anganwadi children twice a week.
49. Govt employees service will release new version of Spark software to manage payroll.
50. KFC will form a consortium with banks and other government agencies for infrastructure development projects of the state government. Rs 2000 crores will be remitted via KFC at rate of Rs 250 crores per project.
51. 100% financing for purchase of industrial land through KFC.
52. For the purchase of deep-sea fishing boats, a loan of up to Rs.70 lakhs per boat will be provided by KFC at an interest of 5%. per annum.
53. Scale Up Package for Mission 1000 – 1000 enterprises to accomplish turnover of Rs.1,00,000 crore in 4 years.
54. Rs 200 crores over 2 years to set up green hydrogen hubs in Thiruvananthapuram and Kochi.
55. Scholarships will be awarded to 100 researchers among those who secure short-term research assignments in the world's top 200 universities.
Tax directives
56. Court fees for defamation and civil law violation cases shall be fixed at 1% on claim amount.
57. 2% increase in one-time tax on newly purchased motorcycles up to Rs.2 lakhs.
58. Revised tax rates on purchase of new cars and private service vehicles bought for personal purposes would be as under as under :
(a) Up to 5 lakhs – 1% increase
(b). 5 lakhs to 15 lakhs – 2% increase
(c). 15 lakhs to 20 lakhs – 1% increase
(d). 20 lakhs to 30 lakhs – 1% increase
(e) Above 30 lakhs - 1% increase
59. Currently, a one-time tax of 6 - 20% of vehicle cost is levied on newly purchased electric motor cabs and electric tourist motor cabs. This one-time tax has been reduced to 5% of the vehicle price to match tax rate applicable to private electric vehicles.
60. A 10% reduction in tax to provide relief to contract carriage/ stage carriage vehicle owners
61. One-time cess on newly registered vehicles will stand increased as follows:
(a). Two-wheeler – Rs.100
(b). Light Motor Vehicle – Rs.200
(c). Medium motor vehicle – Rs.300
(d). Heavy motor vehicle – Rs.500
62. Tax on buses registered to special schools in unaided sector has been made equal to that for similar government schools.
63. New amnesty scheme for settlement of arrears of tax.
64. To promote hortiwine, the tax structure identical to that for India made wine shall be implemented.
65. The fair value of land will be increased by 20%
66. Stamp duty on flats/apartments were reduced owing to economic slowdown. The same has now been increased from 7% from previous 5%.
67. Registration fee for Surrender of Lease agreement has been reduced to Rs.1000.
68. Additional resources will be mobilized through the Social Security Seed Fund to ensure social security to the weaker sections. To facilitate this, a Social Security cess will be imposed at the rate of Rs 20 per bottle on Indian-made foreign liquor priced between Rs 500 and Rs 999, Rs 40 per bottle on liquor above Rs 1,000 and Rs 2 on petrol and diesel.
69. In the field of Mining & Geology, varying price system shall be introduced depending on the type and size of the rock.
70. The lease rent on Government land shall be based on the fair value of the land.
