Budget FY25: Trade unions seek restoration of OPS, increase in tax rebate for salaried class
tax rebate for salaried class and restoration of the old pension scheme are some of the key demands made by trade union leaders during a pre-budget meeting with Finance Minister Nirmala Sitharaman on Monday. The unions also asked the government to stop the privatisation drive of PSUs, scrap the new pension scheme and restore the old pension scheme (OPS).
«The ceiling limit for the income tax rebate for the salaried class on their salary and gratuity must be substantially raised. Government-sponsored social security fund for the unorganised workers and agricultural workers has to be set up to provide them with defined universal social security schemes including minimum pension of Rs 9,000 per month and other medical, educational benefits,» the CTUs said in their memorandum.
Besides, they have sought that all the existing vacancies in the central government departments and PSUs must be filled immediately and the practice of contract and outsourcing should be stopped.
They further said resource mobilisation has to be done by increasing the corporate tax, wealth tax and introducing inheritance tax instead of burdening common masses with the GST on essential food items and medicine.
«Over the decades, corporate tax rates have been slashed unjustly and at the same time increasing indirect tax burden on common people resulted in an utterly regressive tax structure. That must be corrected in the interests of fairness,
Read more on economictimes.indiatimes.com
