Amidst the financial crisis, Kerala finance Minister KN Balagopal will present the state budget for the next financial year in the Legislative Assembly today. The budget presentation will begin at nine in the morning. Budget information and documents will be available through the ‘Kerala Budget’ mobile app.
The financial review report says the financial crisis may continue in the state. Kerala is looking forward to what proposals will be put forward to overcome this crisis. It is indicated that the fair value of the land, tax rates, various transaction-related fees and professional tax may be involved.
The Finance Minister had stated that there will be an increase in taxes that the people can afford. The absence of elections this year is considered to be a favourable situation for drastic measures. People are worried that the price of essential items will increase.
As in previous years, the amount allocated through KIFB for road construction and building construction is likely to be reduced. Funding for local self-government bodies had already been cut. People are hoping that this will change.
But the Pinarayi government has not been able to implement many of the projects announced in the last budget. Spirits from tubers, and the cultivation of pulses in plantations are just a few of them.
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