Kerala Budget 2007-2008 summary
March 9th, 2007
Kerala Budget for 2007-2008 was announced today. The bad news is that the total debt has crossed 55,000 crore rupees. That means each of us have a debt of around 20,000 rupees! You can go through the entire budget here.
The budget shows revenue receipts of Rs 21,000+ crore, against expenditure of 26,000+ crore, leaving a revenue deficit of Rs 5,000+ crore!
Some key proposals are,
1. Vehicle tax restructuring. Costly vehicles will attract more tax.
2. Focus on effective tax collection. Tax evasion is the biggest challenge.
3. Road maintainance to be shifted to long term contracts.
4. Tax reduction on hanveev, hotel rooms below Rs. 200 rent, plywood, concrete/cement pipe and flourescent lamp.
5. Tax increase on vehicle sale, JCB, cigarette, clothes and temporary sales registration.
6. Focus on tax collection from jewellery shops.
7. 1000 new buses for KSRTC (oh god!)
8. Technopark, infopark development - 13 crores.
9. Cancer centres to get more money.
10. 163 crore for universities.
A better summary of the budget in Malayalam is available on the deepika Website.
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