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Kerala moots fat tax on junk food
A 14.5 per cent \'fat tax\' on burgers, pizzas and other junk food and a Green tax for vehicles over 10 years have been proposed in Kerala’s CPI(M)- led Left Front government\'s maiden budget on Friday that also provided for a Rs 12,000 crore \'anti-slowdown package\' for taking up developmental works.
Thiruvananthapuram: A 14.5 per cent 'fat tax' on burgers, pizzas and other junk food and a Green tax for vehicles over 10 years have been proposed in Kerala’s CPI(M)- led Left Front government's maiden budget on Friday that also provided for a Rs 12,000 crore 'anti-slowdown package' for taking up developmental works.
As the state faced a severe financial crisis, Finance Minister T M Thomas Issac presented the 2016-17 budget of the Pinarayi Vijayan government and said resources will be raised outside the budgetary framework through the Kerala Infrastructure Investment Fund Board (KIFB), making use of SEBI and RBI approved schemes.
The LDF came to power in May. The budget, which raised various monthly welfare pensions to Rs 1,000, proposes to raise funds through various means, including diverting a portion of the tax raised through MV tax and Petrol cess, to the KIFB.
