India Budget 2025 - Pre-Budget consultation meeting with Trade Unions and Stakeholders - Hope and Expectations - perspectives of Trade Unions and key proposals.
Bharatiya Mazdoor Sangh (BMS) demanded for increasing minimum EPFO pension from the present minimum Rs. 1,000 per month to Rs. 5,000 per month.The demand was shared with Smt. Nirmala Sitharaman in their customary pre - budget meeting on 6th January, 2025 ( Monday ). Besides the demand for enhancement of pension, the BMS Union also suggested for increasing the the current threshold for Income tax exemption to Rs. 10 Lakhs and demanded income from pension should be exempted from tax.
The BMS also suggested immediate constitution of 8th Pay Commission to revise salary structure of government employees, and for imposing higher taxes on super rich for funding social security schemes in the coming budget declaration for 2025 - 2026. CITU also demanded for the constitution of 8th Pay Commission. It is borne in mind that more than 10 years have elapsed since the constitution of the 7th Pay Commission in February 2014.Demand for restoration of old pension scheme for government employees and implementing social security scheme for gig workers were also communicated to the Finance Minister.
Trade Union Coordination Centre (TUCC) National General Secretary said the media that government will stop all privatisation and corporatisation of PSUs. The TUCC urged for implementing social security measures for agricultural workers and for fixing their minimum wage. The CITU expressed concern over the decline in the number of permanent employees in Central Public Sector Enterprises in 2023-2024. National Front of India Trade Unions suggested a separate budget allocation for the Employees Provident Fund and Employees State Insurance Corporation to provide social security to workers in the unorganized sector.
Minister of State for Finance, Pankaj Chaudhary, high officials, including the Finance Secretary, Secretaries from the Department of Economic Affairs and Department of Investment and Public Asset Management (DIPAM) representatives from the Labour Ministry and Chief Economic Adviser to the Government of India were also participated in the meeting chaired by Smt. Nirmala Sitharaman.
(The purpose of government's pre-budget consultation meeting is aimed at gathering perspectives and inputs from various sectors including stakeholders, trade unions and interested groups to shape policies and allocate resources effectively.The Finance Ministry conducts pre-Budget consultations with experts, industry leaders, economists, and state officials to prepare the annual Budget for the next financial year.)