Leader of the Opposition in the assembly, Ramesh Chennithala and former finance minister K M Mani said the budget was not development oriented, but had been made with an eye on political gains.
Chennithala said the budget was "anti-people" as it imposes new tax burden on the common man.
Mani, of Kerala Congress(M), also said the tax increase on coconut oil would enhance the demand for palmolein, which will impact coconut prices and thus hit the farmers.
BJP leader O Rajagopal, the lone MLA of the party in the state, said the budget was a clear indication that the CPI-M was deviating from the Marxist financial ideology to multinational market oriented policies.
BJP state General Secretary M T Ramesh said the budget was impractical and was not suitable for Kerala, which was facing acute financial crisis.
There were no practical measures in the budget to overcome the crisis. The budget, presented by finance minister Thomas Isaac, had no connection with the White Paper presented by him last week to highlight the state's poor finance, he charged.