Trade Unions advised FinMin to create more jobs through Budget

Photo of Union Finance Minister Arun Jaitely along with Budget bag in the year 2015-16.

Mumbai: The Trade Unions asked Union Finance Minister Arun Jaitley to present next Union Budget for fiscal 2017-18 in such a direction so that it could create more jobs and employment opportunities in the country.

The Finance Minister said in a statement in New Delhi on Sunday said, “The budget should help in creating more jobs and employment opportunities. The minimum wages should be increased to Rs 18,000 per month, and same wages for same work even for contract labour.”




The unions in a joint memorandum urged the minister to raise the minimum personal tax exemption to Rs 5 lakh and increase pension for all workers from Rs 1,000 per month up to Rs 3,000.

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According to a statement from Trade Union said, “The budget should focus on social security schemes for the workers, especially those working in the unorganised sector.”




Other suggestions include credit to the Micro, Small and Medium Enterprises (MSME) sector at 4 per cent interest rate as it generates more jobs, mobile banking facility in rural areas and revised rates for emergency treatment under the Central Government Health Scheme.

On other hand, Jaitely said on the occasion, “Ensuring the benefits of the social security schemes to every section of workers, including those in the unorganised sector, is a major priority of the government.”




He admitted that making the schemes accessible to the workers in the unorganised sector was a major challenge, he further added that the government was keen to address the issue as the sector was growing at a faster pace.

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Noting that the social security framework was structured for different groups spanning organised, unorganised and unemployed or below poverty line, Jaitley said there was a need to ensure a convergence of benefits for all the groups.