The following are the major proposals of the Budget for 2012-13 presented to the Assembly by Finance Minister K. M. Mani on Monday.
Levies:
Road tax on private vehicles hiked
Normal VAT rates to go up by 1%
Land tax raised to Rs. 2 a cent
Cigarettes, pan masala to cost more
Taxes on plastic carry bags hiked to 20%
Social security cess on IMFL raised to 10%
Concessions:
VAT on edible oil, several provisions slashed to 1%
Honey, hives, apiary implements exempted from tax
No tax on intra ocular lens, heart valve and cardiac stent
Tax on powdered tamarind seeds goes
Ayurvedic products classified as cosmetics to cost less
Tax on chips, ginger-coffee mixture in air-tight containers slashed
Tax on packaged coconut water reduced to 5 %
Tax on e-toilets, cradles lowered to 5 %
Highlights
Allocations for major infra projects
Rice and coconut bio parks
Ayurveda University at Kottackal
Airports in Idukki and Wayanad
Air strips in every district
Company for sea-plane service
Knowledge city at Thodupuzha
Technical University in the capital
Prisoners’ benevolent fund
Keywords: Kerala, State Budget, Highlights, Retirement, Levies, Concessions
Great budget ,Totally appreciated
I feel the budget was well planned. Its good to see that a balnced approach has been taken for economic and social development. Good to know that emphasis has been given to infra development as well. People who criticize the budget must realize that increase in taxes and pension age is important as the state is reeling under debt crisis and deficit.
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