Kerala Budget 2021 Pdf | Analysis | Quiz | Highlights | Summary

Kerala Budget 2021 Pdf | Analysis | Quiz | Highlights | Summary – The Finance Minister of Kerala, Dr. T. M. Thomas Issac, presented the Budget for the state for the financial year 2021-22 on January 15, 2021. Note that it is a vote on account. The Gross State Domestic Product (GSDP) of Kerala for 2021-22 (at current prices) is projected to be Rs 8,76,283 crore. This is 7% higher than the revised estimate of GSDP for 2020-21 (Rs 8,22,023 crore). In 2020-21, GSDP is estimated to be 16% lower than the budget estimate.

Kerala Budget 2021 Pdf | Analysis | Quiz | Highlights | Summary

Kerala Budget 2021 Pdf | Analysis | Quiz | Highlights | Summary

State  Kerala
Document  Kerala State Budget
Year  2021-22
Format  Pdf
Medium  English And Malyalam
Status  Available
Download Link  Kerala Budget Online Pdf 

Kerala Budget Analysis & Highlights 2021-22 For KPSC

The Gross State Domestic Product

  • (GSDP) of Kerala for 2021-22 (at current prices) is projected to be Rs 8,76,283 crore.  This is 7% higher than the revised estimate of GSDP for 2020-21 (Rs 8,22,023 crore).  In 2020-21, GSDP is estimated to be 16% lower than the budget estimate.

Total expenditure 

  • for 2021-22 is estimated to be Rs 2,11,873 crore, a 22% increase over the revised estimates of 2020-21.

Total receipts (excluding borrowings)

  • For 2021-22 are estimated to be Rs 1,28,730 crore, an increase of 38% as compared to the revised estimate of 2020-21.   In 2020-21, total receipts (excluding borrowings) are estimated to fall short of the budget estimate by Rs 21,537 crore (decrease of 19%).

Revenue deficit

  • For 2021-22 is estimated to be Rs 16,910 crore, which is 1.93% of the GSDP.  In 2020-21, revenue deficit is estimated at Rs 24,206 crore against the budget estimate of Rs 15,201 crore (59% increase).

Fiscal deficit

  • For 2021-22 is targeted at Rs 30,698 crore (3.5% of GSDP).  In 2020-21, the revised estimate for fiscal deficit is expected to be 4.25% of GSDP, higher than the budget estimate of 3% of GSDP.

TaxationKerala flood cess (1% of GST) will not be levied after July 2021.  Further, the tax:

  • (i) on liquid and compressed natural gas (LNG and CNG) will be reduced from 14.5% to 5%, and
  • (ii) on newly registered electric vehicles will be reduced by 50% for next five years.
  • For property transactions, the stamp duty will be reduced from 8% to 4% and the registration fee will be reduced from 2% to 1%.

Employment: Schemes will be initiated to provide jobs to:

  • (i) at least 20 lakh professionals within five years, and
  • (ii) at least two lakh people who took a break from professional jobs in 2021-22.  A skill mission will be formed to train an estimated 50 lakh youth.

Eco-friendly construction of buildingA policy to encourage eco-friendly construction of buildings will be formulated.  The incentives for adherence to the standards include:

  • (i) 10% reduction in electricity tariff for five years on achieving 20% power saving
  • (ii) 20% reduction in local building tax
  • (iii) 50% reduction in one-time building tax
  • (iv) 1% reduction in stamp duty during the transaction.

Higher education:

  • Rs 2,000 crore will be given as financial aid for infrastructure development of universities.
  • Rs 1,000 crore will be spent on financial aid for affiliated colleges.
  • In colleges, 20,000 more students will be accommodated by 10% increase in seats, launching new courses and research facilities.

Industrial corridors:

  • Construction of three industrial corridors (Kochi-Palakkad, Kochi-Mangalore, and Capital City Regional Development) involving investment of about Rs 50,000 crore will begin in 2021-22.
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