Thiruvananthapuram : Kerala Finance Minster K.N. Balagopal is likely to present the State Budget for the 2023-24 fiscal on February 3, while the state is facing severe financial crisis. 

The budget presentation comes at a time when the state is going through a severe financial crisis. Therefore, the Finance Minister will present the budget very carefully. There will be a huge reduction in the amount transferred through Kifbi. If the budget is introduced following the footsteps of the central budget, there is a possibility that the price of many products including cigarettes will increase. 

Government fees, fines and motor vehicle fines are likely to increase. At the same time, it remains to be seen how much the land tax will increase. It is important to know whether the tax on alcohol has been increased. People are worried that the price of daily use items will increase in the case of increase including Vellakkaram. As in previous years, the amount allocated through KIFB for road construction and building construction is likely to be reduced. 

Funding for local self-government bodies had already been cut. They hope that this will change. There is also possibility of deferment of amount for public hotels and Koodumbashrees. And it is hoped that the farmers will also be relieved. Small businesses and new entrepreneurs have high hopes in the budget.

Meanwhile, Nirmala Sitharaman has made big announcements in the last budget of the second Modi government held yesterday. The most promising thing about the middle class is that there is no income tax up to Rs 7 lakh. Revised tax slabs bring relief to taxpayers. The announcement that PM Garib Kalyan Anna Yojana will continue for one more year was also a relief to crores of common people of the country. 81 crore people are its beneficiaries. The scheme provides free 5 kg food grains every month. The government will spend Rs 2 lakh crore for this.

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