| Lining up ambitious proposals to boost the technology and tourism sectors in the state, Kerala Finance Minister Thomas Isaac presented the new LDF government's maiden budget in the state assembly today.
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| The revised budget for the year seeks to mop up additional resources to the tune of Rs 105 crore by way of bringing a variety of items like soft drinks, mineral water, health drinks, home appliances and building materials under a 20 per cent tax slab.
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| However Isaac, while presenting the Rs 716.56-crore deficit budget, sought to be liberal with proposals for IT, tourism and the traditional sector.
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| Pointing out that the Thiruvananthapuram Technopark, which houses a wide range of companies with a global presence, and other such technology parks in the state have reached maximum capacity utilisation, Isaac reiterated government plans to have a Techno City in the state capital.
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| An amount of Rs 20 crore has been set aside for land acquisition and related activities in this regard, he said.
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| The finance minister pointed out that investments, including foreign funds, would be welcomed in a bid to usher in new technologies and employment generation.
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| In his budget speech he proposed that a new company be formed for mobilisation of capital for infrastructure development. For the revival of state-run PSUs, the budget proposes to set aside Rs 40 crore.
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| For the tourism sector, the budget proposes to earmark up to Rs 77.57 crore. A scheme which will comprise adventure tourism, health tourism and eco tourism has been planned.
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| The scheme will help in linking different tourist destinations in the state. A total of Rs 5 crore will be set aside for the drafting and implementation of the Sabarimala master plan, according to Isaac.
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| The budget also proposes to earmark Rs 5 crore for the Bekal tourism project. The budget proposes to set aside Rs 60 crore for providing rice at Rs 3 a kg for the BPL sections. Isaac also put forward the setting up of an agricultural debt relief commission with quasi-judicial powers to free debt-ridden farmers from the clutches of private financiers.
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| In a bid to ensure better prices for farm produce, constituting an agricultural commission has been proposed. The finance minister said the budget proposed to allocate Rs 156 crore for these initiatives.
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| Tax on gold ornaments would go up from 1 per cent to 4 per cent. Cable TV operators have also been brought within the tax net through the imposition of a 4 per cent tax.
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| According to the revised budget, revenue receipts to the tune of Rs 19,140.04 crore and revenue expenditure of Rs 24,554.82 crore have been estimated. |
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