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Finance Minister meets Trade Union Leaders for Pre-Budget discussions
New Delhi: June 5, 2004

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, the Finance Minister indicated that the Common Minimum Programme (CMP) as announced by the United Progressive Alliance (UPA) Government, attaches high priority for removal of unemployment and creating more jobs.

Finance Minister requested the trade union leaders to indicate their views on how to accelerate the growth of employment. While doing so, the Finance Minister requested the trade union leaders to talk not only about organized labour, but also to indicate welfare measures for the un-organised work-force who also need our protection.

The trade union leaders welcomed the human approach in the CMP and expressed their full support and co-operation with the UPA government for achieving higher employment and eradication of poverty. In a wide-ranging discussion that followed, the major suggestions made by the union leaders included the following:

  • New Pension Scheme may be re-examined.
  • Retirement age should be retained at 60 years.
  • Maintaining/ raising interest rate on employees’ provident funds,
  • Amendment of labour laws only after due consultation with the trade unions.
  • Provision of more funds for development of social and physical infrastructure.
  • To encourage small and medium enterprises (SMEs), plantations, agro-processing and agro-based industries for employment generation
  • System of purchase preferences granted to the SSI units may be re-introduced.
  • To welcome foreign investment only in green field projects for employment.
  • To provide more autonomy to profit making public sector enterprises (PSEs), with provisions for workers’ participation in equity and management, and profit sharing by employees.
  • To raise exemption limit for Income Tax to at least to Rs.1 lakh (while allowing standard deductions) or Rs.1.5 lakh (without any standard deduction);
  • Permanent absorption of contract labour by PSUs;
  • Provision of social security to agricultural workers and unorganised workers;
  • Establishment of a National Workers’ Capital Fund
  • Workers may be allowed to take over management of sick industries.
  • Imposition of higher import duties on agricultural and labour-intensive products.
  • Clear-cut policies on WTO issues by the government must be announced.
  • Pay ceiling for eligibility of bonus may be raised.
  • Misuse of land by disinvested companies should be prohibited.
  • Employment guarantee schemes and Food for Work Programmes must be strengthened with the help of the comfortable level of food-stocks.
  • Tax exemption for employment may be allowed on the basis of net addition to the number of people employed.
  • Tax/GDP ratio needs to be raised.
  • Corporate sector may pay more taxes, and all exemptions must be withdrawn.
  • Need for enacting a National Employment Guarantee Act.
  • No privatisation of profit making and viable PSUs.
  • Agriculture tax may be imposed on rich farmers.
  • Rate of professional tax may be raised.
  • Need for taxing income of expensive private schools.
  • Need for imposing expenditure tax to curb extravagant expenditure on marriages, parties etc.
  • Recovery of outstanding tax must be expedited.
  • Tax evasion should be punished and tax collection and administration must be strengthened.
  • Launching long-term development bonds (both within and outside the country).
  • Black money and corruption must be dealt with strictly.
  • Need for reduction of unproductive expenditure within the government.
  • Improve conditions of contract labour.
  • Land reforms must be given priority.
  • Nation Renewal Fund may be revived.

The meeting was attended by representatives of All India Trade Union Congress, Bhartiya Mazdoor Sangh, Centre of Indian Trade Unions, Hind Mazdoor Sabha, Indian National Trade Union Congress, National Front of Indian Trade Union, United Trade Union Congress, United Trade Union Centre (LS), and senior officers of the Ministry of Finance.



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