The State Budget is a mixed bag for the management fraternity in Kerala, and it is likely to evoke accolades for certain reform initiatives. It may also face criticism for some of the proposals. Some innovative initiatives that are appreciated include steps to end manual scavenging and an Uber-model ambulance service as well as a specific allocation for the transgender community, said Vivek Krishna Govind, president of Kerala Management Association.
The hike in taxes on alcohol will have a major impact on tax collections.
In the 2017 Budget, an ‘Amnesty Scheme’ was announced under the Kerala General Sales Tax Act and Luxury Tax Act for settling arrears up to 2010-11.
To opt for such amnesty and to pay arrears, the period has now been extended to June 30, 2018, and it is a welcome move, Mr. Krishna Govind said.
Deepak L. Aswani, co-chair, FICCI Kerala State Council, said that the Budget had enhanced allocation and development plans for agriculture, tourism, start-ups, innovation, IT hubs, and education, and it must be appreciated.
Indian Chamber of Commerce and Industry president Rajesh Agarwal said that the Budget had not much to offer to trade and industry. He said that the Finance Minister had adopted the “reduced expense and increased income” objective this year. Forced by Cyclone Ockhi and its impact, focus has been on coastline development. Though the State’s economy is staring at an impending crisis, the Budget does not propose any concrete measures to address the challenge, said D. Dhanuraj, chairman, Centre for Public Policy Research, Kochi.
The Ernakulam Merchants’ Association said that traders had been ignored in the Budget.
