Kerala budget 2019 Highlights: GST revenue to be raised by 30 per centhttps://indianexpress.com/article/india/kerala-budget-live-fm-thomas-issac-kerala-floods-fiscal-situation-5562192/

Kerala budget 2019 Highlights: GST revenue to be raised by 30 per cent

Kerala budget 2019 Highlights: One of the major highlights of the budget will be a comprehensive universal primary health care programme aimed at covering 50 per cent of the population.

Kerala budget 2019 LIVE: Finance Minister TM Thomas Issac

Kerala Finance Minister TM Thomas Isaac presented the state budget for the 2019-20 fiscal year today in the assembly.

On Wednesday, in an exclusive interview with indianexpress.com, Isaac described the fiscal situation of Kerala as bad. He underlined that the economic impact of the devastating floods last year coupled with poor implementation of the Goods and Services Tax (GST) and internal leakages in the collection of VAT has affected the state’s fiscal health.

“We are still 13-15% behind the projected revenue. Our whole mean fiscal policy was premised upon a 20% growth on GST. Kerala being a consumer state, that was naturally our expectation. More than that, during the previous governments from 2006-14, VAT was growing at 18-19% pa. Now it’s very slow primarily because of internal leakages,” he said.  Read in Malayalam 

He said it will be suicidal for the government not to go for an expansive budget as it has the responsibility to get the economy ticking again by spending more.

One of the major highlights of the budget will be a comprehensive universal primary health care programme aimed at covering 50 per cent of the population. This will be notwithstanding the Ayushman Bharat health insurance program of the Centre that Kerala has agreed to adopt.

Live Blog

Kerala 2019 Budget today. Follow Highlights here. Read in Malayalam 

Kerala Finance Minister concludes budget

Kerala Finance Minister Issac Thomas concludes budget presentation. 

Additional 2 per cent tax on alcohol


Additional 2 per cent tax to be applied on alcohol including beer and wine.

Additional tax for houses over 3,000 square feet.

10 per cent entertainment tax to be imposed on Movies

No cut on expenditure to get over financial crisis: FM Thomas Issac


Kerala Finance Minister Thomas Issac said that there will be no cut on expenditure to get over  financial crisis.

He slaps 1 per cent flood cess on items under 12 per cent, 18 per cent, 28 per cent GST slab

He also requested everyone to ask for GST bills.

Kerala budget 2019: Tax on Gold

Gold, silver ornaments slapped with 0.25 per cent cess.

6 per cent sales tax on earnings in the Rs 20-60 lakh bracket

GST revenue to be raised by 30 per cent

GST revenue increased to 30 per cent from 10 per cent. Revenue from lottery to touch Rs 11,863 crore in 2019-20

Kerala budget 2019: Sabarimala

Kerala budget 2019: Rs 278 crore fund for Kerala tourism

FM Thomas Issac announces Rs 278 crore for Kerala tourism

Rs 739  crore for Sabarimala development under KIIFB

Rs200 crore given for road maintenance to Sabarimala

Integrated Health insurance scheme to kick start in 2019

Integrated Health insurance scheme to kick start this year. There'll be new insurance coverage for all families.

Kerala budget 2019: Rs 20 crore allotted for hunger-free state

Rs 25 crore earmarked under Santhwanam project to assist NRIs who lost jobs.

Rs 1000 crore announced for Kudumbashree mission.

Rs 20 crore allotted for hunger-free Kerala.

Tax exemptions announced for E-vehicles

                       

Rs 12 crore allocated to E- mobility fund.

Electric vehicles to get tax exemptions. FM announces 10 lakh electric vehicles by 2022.

KRCTC to switch to electric buses

Schemes announced to double income of farmers in Wayanad

Rs 30 crore allocated for other miscellaneous developments

Schemes announced to double income of farmers in Wayanad

Rice and Rubber sector gets 700 crore


New Kuttanad project announced for Rs 1000 crore.

Rice farming gets Rs 20 crore

Rubber sector gets Rs 500 crore

Kergramam project: Nearly 10 lakh saplings to be distributed under this scheme

Kergramam project to get 40 crores, nearly 10 lakh saplings will be distributed under this scheme.

Pepper cultivation: Rs 10 crores

# Rs 10 crore allocated for pepper cultivation which was destroyed during floods.

# Rs75 crore for Ayyankali Urban Employment Guarantee Scheme

FM Thomas Issac announces Rs 2 crore for women empowerment schemes

FM Thomas Issac announces Rs 2 crore for women empowerment schemes.

Rs 250 crore allocated for employment guarantee schemes.

There will be 25 new projects announced for Nava Kerala mission.

Kerala budget presentation begins

Budget Presentation begins. This will the tenth budget presented by 66-year-old Isaac, an MLA from Alappuzha district. He was the finance minister during the previous LDF regime under Chief Minister VS Achuthanandan.

Post floods, Kerala govt allowed to impose 1% cess on GST for two years to deal with calamity

Post floods, the Kerala government was allowed by the Centre to impose a 1% cess on the GST for two years to deal with the calamity. An August 21 report by rating agency Care Ratings had said that in the backdrop of the floods, the state’s GDP growth was expected to fall to 6.5-7% from the budgeted 7.6% in FY 2019. The services sector, including the tourism sector, as well as the agricultural sector with major losses to plantation crops like coconut and banana, had all been hit hard by the floods.

This will the tenth budget presented by 66-year-old Isaac, an MLA from Alappuzha district. He was the finance minister during the previous LDF regime under Chief Minister VS Achuthanandan.

With the interim Budget scheduled to be presented just a day after Isaac’s budget, he said it is very likely that in an election year, the government at the Centre would use it to announce sops.

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“They are not going to be judged by what they did because that track record is really bad. I’m expecting that they will have to do some basic income support scheme. Or something for farmers because the rural sector is in turmoil,” said Isaac.

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