Fuel and alcohol prices in Kerala would increase as a result of the Left Democratic Front government’s budgetary imposition of social security cess on these items.
The cess is 20 rupees each bottle of Indian-made foreign liquor (IMFL) that costs between 500 and 999 rupees.
A cess of Rs 40 has been imposed on IMFLs with MRPs greater than Rs 1,000. This should bring in an extra 400 crore rupees in revenue.
For each litre of gasoline and diesel, a cess of Rs 2 would be charged. This is anticipated to generate an additional Rs 750 crore in income.
The costs were brought about by the creation of a social security seed fund.
The cess was declared by Finance Minister K N Balagopal on Friday while he was presenting the State Budget for 2023–2024.
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