In his budget for 2014-15 presented in the state Assembly, Finance Minister K M Mani sought to raise additional resources
of Rs 1556.35 crore while giving emphasis on farm sector and increasing various welfare pensions.
Claiming that the levies were being rationalised, the budget proposed to collect around Rs 260 crore from motor
vehicles and transport sector alone.
This is not only expected to affect the affluent but also the common man may have to pay more to travel in autorickshaws.
The budget sharply increased the purchase tax on imported vehicles, lumpsum tax on motor cars of various capacities and
sizes, new generation caravans and inter-state coaches. It also hiked the duty on Indian Made Foreign Liquor (IMFL) by 10 per cent, eyeing to net an additional amount of Rs 400 crore.
In a proposal that could impact the real estate business, the Finance Minister rationalised the compounding taxes on
metal crusher units and brought manufactured sand under the tax net, which together would contribute Rs 140 crore.
The concession enjoyed by eateries selling multi-national brands had been withdrawn, making the food sold by them
costly. The exchequer targets to get Rs 10 crore from its.
The service apartments given on daily rent basis had been slapped with a 12.5 per cent tax.
The budget proposed to double taxes on building and levy on luxury buildings, seeking to mop up Rs 70 crore. However,
in a relief to low income groups, houses having a plinth area of up to 100 sq metre and commercial buildings of 50 sq metre
have been given exemption.
Price of weekly lotteries would be increased by Rs 10 and the government expects to get Rs 5,500 crore from the lottery
Sailing into its fourth year in power and the Lok Sabha polls round the corner, the UDF government proposed a slew of
sops for agricuture sector and enhanced various welfare pensions