News Update

PM to hold roadshow in Puri on MondayViolations of economic sanctions: Criminal penalties come into forceBengaluru Customs nabs 4 pax with gold powder worth Rs 1.96 CroreKejriwal’s assistant put in police custody for 5 days in Swati Maliwal caseAllahabad HC upholds decision to dismiss judicial officer demanding dowryNawaz Sharif alleges former Chief Justice plotted to oust him as PM in 2017Heavy downpours claim 50 lives in Central AfghanistanSoaring funeral costs compelling people to let go bodies unclaimed in Canada9 pilgrims burnt to death as bus catches fire near Nuh in HaryanaSpain denies dock permission to Indian ship carrying arms to Israel12 Unicorns, over 125 startups commit to onboarding ONDCBEML secures Rs 250 crore order from Northern Coal FieldsBharat Parv celebration takes centerstage at Cannes Film FestivalSteel industry should work towards reducing emissions: Steel SecretaryI-T - Additions framed on account of unexplained cash credit & unexplained money, are not tenable where cash deposits & withdrawals were of personal funds & were done through banking channels: ITATUS says not too many vibrant democracies in the world than IndiaI-T - Benefit of section 11(2) can not be denied merely on reasoning that form 10 is filed belatedly: ITATIndia says Chabahar Port to benefit Central Asia and AfghanistanRussia seizes Italy’s UniCredit assets worth USD 463 mnCus - Order re-determining transaction value based on CRCL test report is not correct & hence unsustainable: CESTATCus - If price is not sole consideration for sale, then transaction value can be rejected under Rule 8 of Export Valuation Rules & then must be redetermined sequentially through Rules 4 to 6: CESTATSC upholds ICAI rules capping number of audits per year
 
Pre-Budget Meet - Trade Unions call for hiking income tax exemption limit to Rs 5 lakh and pension to workers to Rs 3000; Credit to MSME Sector at 4% 

By TIOL News Service

NEW DELHI, NOV 20, 2016: SPEAKING at the second Pre-Budget Consultative Meeting for the Union Budget 2017-18 with the representatives of different Trade Union Groups in Delhi yesterday, the Union Finance Minister, Mr Arun Jaitley, said that major priority of the present Government is to ensure that benefits of Social Security Schemes reach to every section of workers including those working in the un-organized sector.

He said that the Government is sensitive about the workers’ welfare and would take all possible measures to ensure that their interest and welfare is fully protected. He said that making social security schemes accessible to the workers of the un-organised sector is a major challenge, which the Government is keen to address at this juncture as the unorganised sector is growing at a faster pace.

Speaking on the occasion, the Finance Minister further said that the present framework of social security is structured for different groupings – organized, unorganized and those not employed/BPL, which are functional requirements. He said that there is a need to ensure a convergence of benefits for all these groupings, above a minimum threshold.

The Finance Minister said that for employment generation, the Government has taken many intiatives like Make in India, Skill India, Mudra Yojana and National Career Service Portal. Along with skill development, identifying labour-intensive industries and new areas where jobs can be created like renewable energy and reusable resources etc. and providing employment linked training can be some of the ways to capitalise on the demographic dividend, the Finance Minister added.

Most of the Trade Union representative gave a joint memorandum to the Finance Minister containing suggestions for the forthcoming Union Budget 2017-18. Various suggestions were made by the representatives of Trade Union Groups in the meeting. Major suggestions include that next Budget should help in creation of more jobs/employment opportunities. It was suggested to increase the minimum wages to Rs.18,000. Other suggestions include more focus in the Budget on social security schemes for the workers especially those working in an un-organised sector. It was suggested that same wages be given for same work including in case of those working on contractual basis. Anti-dumping measures especially in metal sector like steel have to taken-up on utmost priority to save the domestic industry from irreparable loss and ultimate closure.

Other suggestions include minimum personal tax exemption limit be raised to Rs. 5.00 lakh and pension for workers be increased from Rs.1,000 to Rs. 3,000 and be given to all kinds of workers. Other suggestions include credit to MSME Sector at 4% as it generates lot of employment; and providing mobile banking facility in rural areas where there is no banks/Post Offices etc. It was also suggested that rates for treatment in case of emergency under CGHS be revised.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.