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The Union Finance Minister Shri P. Chidambaram met today the major trade union leaders as a part of pre-budget consultations with various interest groups. Welcoming the trade union leaders, Finance Minister requested them to indicate their suggestions for the forthcoming Union Budget for 2005-06.
In a wide-ranging discussion that followed, the major suggestions made by the trade union leaders included the following:
· Provision of more funds for social sectors - allocation of at least 10 per cent of total budget on education;
· To encourage small-scale industries, unorganised and informal sectors for employment generation,
· Extent of social security system to agricultural workers and unorganised workers;
· Setting up the Pay Commission
· Exemption limit for income tax to be raised from Rs.1.1 lakh to Rs.1.5 lakh or 2 lakh.
· Coal Bill 2000 should not be reintroduced.
· Introduction of one Comprehensive Bill of Social Security for workers
· Interest rate should be raised for Employees’ Provident Fund (EPF).
· Employment Guarantee Scheme should be made more universal covering the urban poor as envisaged under the National Common Minimum Programme, and the relevant minimum wage should be specified
· Banks should provide more credits to the small-scale industries and for self-employment schemes.
· Unemployment allowance for all unemployed persons.
· Workers participation in management and shareholding of a company.
· Establishment of a National Workers’ Capital Fund
· Amendment of Bonus Act to enhance the limits on bonus.
· Public Distribution System should be revamped.
· Imposition of tax on agricultural income
· Massive public investment programmes for agriculture, health and education.
· Higher fiscal deficits may be allowed for promoting growth. By suitable amendment of the Fiscal Responsibility and Budget Management Act.
· Reintroduction of Wealth Tax,
· Fight against corruption and black money,
· Utilisation of foreign exchange reserves and monetised deficit for infrastructure development
· No withdrawal of subsidies for food, fertilizers and petroleum products
· Regularization of all employees and withdrawal of ban on new recruitment in Government.
The meeting was attended by representatives of Bhartiya Mazdoor Sangh, Indian National Trade Union Congress, Centre of Indian Trade Unions, Hind Mazdoor Sabha, All India Trade Union Congress, United Trade Union Centre (LS), United Trade Union Congress, National Front of Indian Trade Unions, and senior officers of the ministry of Finance.
BSC/BY/GN-11/5
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