News Update

 
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.


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