Unions Seek Higher Tax Exemption 

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NATIONAL Unions seek higher tax exemption NEW DELHI: NOVEMBER 20, 2016 03:47 IST UPDATED: NOVEMBER 22, 2016 17:10 IST Trade unions on Saturday called for an increase in the minimum personal income tax exemption limit to Rs. 5 lakh during their pre-Budget consultative meeting with Finance Minister Arun Jaitley. The unions also requested that pension for workers be increased from Rs.1,000 to Rs. 3,000 and be given to all kinds of workers. They also requested lower interest credit for the MSME sector as it generates large employment. “It was suggested to increase the minimum wages to Rs.18,000,” a government release following the meeting said. “Other suggestions included more focus in the Budget on social security schemes for the workers especially those working in an un-organised sector.” The unions requested that anti-dumping measures especially in metal sector like steel be taken up on a priority basis. Key priority Mr. Jaitley said that one of the major priorities of the government was to ensure that the benefits of its various social security schemes reach every section of workers including those working in the un-organised 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,” the release said. The Finance Minister added that making social security schemes accessible to the workers of the unorganised sector was a major challenge, something the government was keen to address since the sector was growing at a faster pace. He added that the present framework of social security is structured for different groupings — organised, unorganised and those not employed or below the poverty line— adding that there is a need to ensure a convergence of benefits for all these groupings, above a minimum threshold. Also present at the meeting were Minister of State for Finance Arjun Ram Meghwal, Finance Secretary Ashok Lavasa, Economic Affairs Secretary Shaktikanta Das, Revenue Secretary Hasmukh Adhia, Financial Services Secretary Anjuli Chib Duggal, Labour Secretary M. Sathiyavathy, and Chief Economic Adviser Arvind Subramanian, among others..

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