Kerala Budget: GST disappointing, benefits only corporates, says state FM

The Kerala government on Friday said Goods and Services Tax (GST) was highly disappointing and that it benefited only corporates. Meanwhile, the state, which tabled its Budget for 2018-19, has said fiscal deficit will be reduced to 3.1 per cent in 2018-19, while revenue deficit will be reduced to 1.6 per cent

Thomas Isaac in the budget speech said the main issue with GST is lack of a full-fledged administrative system.

"Demonetisation was an ‘Ockhi’ (cyclone) on the economy. End consumers are not getting the actual benefits of GST as corporates are making the most out of this," he said.

He also alleged that the GST and other policies adversely affected state’s development.

The State has allocated Rs 2.60 billion for market intervention.

Here are the highlights of the Kerala budget 

* The state says health protection scheme for each and everyone. Lottery will fund healthcare initiatives

* Selected Public Distribution Centre Ration Shops will be converted into Margin Free Shops.

* A Special package of Rs 20 billion for coastal area.

 Fishing sector will get Rs 6 billion development. 

* International agency will develop DPR for coastal development projects. 

* Revenue growth was 7.4 per cent.