Kerala Budget 2023: What's cheaper and costlier? Check prices for liquor, fuel, electricity, and others

The Kerala Budget 2023 was tabled by Finance Minister KN Balagopal on Friday.

Balagopal, while presenting the Budget 2023, said it aims to levy a Social Security Cess at the rate of Rs 20 for each bottle of IMFL having MRP between Rs 500 and Rs 999, reports said.

The Finance Minister further said another crucial measure for the Social Security Seed Fund is proposed to be brought by bringing the Social Security Cess on sale of fuel including petrol and diesel at the rate of Rs 2 per litre.

Kerala Budget 2023: What’s cheaper?

• 10% reduction in taxes on contract and state carriage vehicles
• One-time tax on electric motor cabs reduced by 5%
• Tax on vehicles reduced to 5% of the total price of the vehicle

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Kerala Budget 2023: What’s costlier?

• Electricity charges have been hiked – Electricity duty for commercial and industrial sectors has been increased to 5%
• Petrol and Diesel hiked by Rs 2 per litre
• Liquor – Rs 20 for each bottle of IMFL having MRP between Rs 500 and Rs 999, Rs 40 per bottle of IMFL having MRP above Rs 1,000
• Cost of acquiring apartments to rise – Stamp duty increased by 2%
• The fair value of land increased by 20%; rent to be based on the fair value of land
• Court fee stamp duty – 1% fee for defamation cases
• Change in one-time cess on new vehicle registrations – Two-wheelers Rs 100 (from Rs 50),
• Light motor vehicles Rs 200 (Rs 100), Medium motor vehicles Rs 300 (Rs 150), Heavy motor vehicles Rs 500 (Rs 250)
• Increase in price of new cars and vehicles in private use – Till Rs 5 lakh – 1% increase, Rs 5 – Rs 15 lakh – 2% increase, Rs 20-30 lakh – 1% increase, above Rs 30 lakh- 1% increase
• Motorcycle tax hike – A 2% additional tax will be levied on motorcycles priced up to Rs 2 lakh

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