Thiruvananthapuram: Kerala Finance Minister KN Balagopal announced the state Budget 2025 on Friday. Key proclamations among them are a 50 per cent increase in land tax and a 750 crore allocation for the rehabilitation of Wayanad landslide hit victims. A bunch of projects have been announced for Kannur and Kollam districts.
The Budget also increased the lease amount for state-owned lands and tax on motorcycles, three-wheelers and other private vehicles older than 15 years by 50 per cent.
The Budget offers a 2 per cent reduction in home loan interests, allocates Rs 2 crore for installing sanitary napkin incinerators in public schools, Rs 3 crore for Haristha Kerala Mission menstrual cup scheme for higher secondary students and Kudumbashree workers, Rs 109 crore for the free school uniform scheme.
Balagopal promised that the six-lane highway construction will be completed by December 31, 2025.
The minister announced that the final instalment of the Rs 600 core for the Service Pension revision arrears would be paid in February. Also, the remaining two installments of the salary revision arrears will be disbursed this financial year and merged into PF. The minister said the government will also take steps to release the two pending instalments of DA arrears.
The Budget has increased the allocation for local self-governing institutions to Rs 15,980.41 crore, with Rs 2,577 crore set for the General Purpose Fund. Also, Rs 178.94 crore was allocated for KSRTC and Rs 107 crore for purchasing modern buses.
Land acquisition for the coastal highway will take place this year every 25 km, while Rs 500 crore has been allocated for the development of inland waterways.