For Central Government Employees nothing announced about the demand of Rs 18000 minimum wage

For Central Government Employees nothing announced about the demand of Rs 18000 minimum wage

"The working class is also betrayed contrary to the claims being made by the prime minister and the finance minister in regard to providing dignity to the workers. Nothing announced about the demand of Rs 18000 minimum wage to workers about 45 crore of them who were hoping against hope."

AITUC DEPLORES THE BJP LED NDA GOVT. FOR MAKING CRUEL JOKE ON THE SUFFERING PEOPLE

Press Release

The BJP led NDA government has once again attempted to throw jumlas on the face of suffering people of India through its vote on accounts (interim budget). The announcements made are with forthcoming elections in mind, just throwing statistics without any basis. On one hand side it is a cruel joke on the marginal farmers who hold land up to 2 hectares which number about 86 % of total farmers in the country offering rupees 17 per family per day. The rural landless poor who work in the fields and related agricultural activities have been offered nothing.

There is nothing in the budget statement to address unemployment which has reached highest in last 45 years. Nothing offered for job creation, no steps announced to fill up the already sanctioned central and state government posts. Hence the youth is once again cheated.

Those who should be covered in EPF in India should be about 10 crore workers which actually are yet not fully registered and hence all of them not been covered for pension. It is those registered only who are already being covered for pension that the pronouncement in this budget to be benefiting with pension of rupees three thousand where as demand of these workers is for pension not less than 7500. There is nothing in the budget for about 35 crore of unorganized sector workers other than the 10 crore workers who are covered under EPF. The working class is also betrayed contrary to the claims being made by the prime minister and the finance minister in regard to providing dignity to the workers. Nothing announced about the demand of Rs 18000 minimum wage to workers about 45 crore of them who were hoping against hope. The false claim of control on price rise is another insult on the people who are finding it too difficult to run their kitchens in the face of steep rise in the prices of every day essential items.

No tax increase on corporates or wealth tax which are very necessary to meet the present crisis ridden economy of the country. The hollowness of the government and its camouflaging ways were on display through this interim budget.

Statement by AITUC Secretariat

Source: Confederation

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HIGHLIGHTS OF BUDGET 2019

HIGHLIGHTS OF BUDGET 2019

Tax
1. Within 2 years, Tax assessment will be done electronically
2. IT returns processing in just 24 hours
3. Minimum 14% revenue of GST to states by Central Govt.
4. Custom duty has abolished from 36 Capital Goods
5. Recommendations to GST council for reducing GST rates for home buyers
6. Full Tax rebate upto 5 lakh annual income after all deductions.
7. Standard deduction has increase from 40000 to 50000
8. Exempt on tax on second self-occupied house
9. Ceiling Limit of TDS u/s 194A has increased from 10000 to 40000
10. Ceiling Limit of TDS u/s 194I has increased from 180000 to 240000
11. Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses.
12. Benefit u/s 80IB has increased to one more year i.e. 2020
13. Benefit has given to unsold inventory has increased to one year to two years.

Other Areas
14. State share has increased to 42%
15. PCA restriction has abolished from 3 major banks
16. 2 lakhs seats will increase for the reservation of 10%
17. 60000 crores for manrega
18. 1.7 Lakh crore to ensure food for all
19. 22nd AIIMS has to be opened in Haryana
20. Approval has to be given to PM Kisan Yojana
21. Rs. 6000 per annum has to be given to every farmer having upto 2 hectare land. Applicable from Sept 2018. Amount will be transferred in 3 installments
22. National kamdhenu ayog for cows. Rs. 750 crores for National Gokul Mission
23. 2% interest subvention for farmers pursuing animal husbandry and also create separate department for fisheries.
24. 2% interest subvention for farmers affected by natural calamities and additional 3% interest subvention for timely payment.
25. Tax free Gratuity limit increase to 20 Lakhs from 10 Lakhs
26. Bonus will be applicable for workers earning 21000 monthly
27. The scheme, called Pradhan Mantri Shram Yogi Mandhan, will provide assured monthly pension of Rs. 3,000 with contribution of Rs. 100 per month for workers in unorganized sector after 60 years of age.
28. Our government delivered 6 crores free LPG connections under Ujjawala scheme
29. 2% interest relief for MSME GST registered person
30. 26 weeks of Maternity Leaves to empower the women
31. More than 3 Lakhs crores for defence
32. One lakh digital villages in next 5 years
33. Single window for approval of India film makers

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Budget 2019 : Income Tax exemption limit raised to Rs. 5 lakh

Budget 2019 : Income Tax exemption limit raised to Rs. 5 lakh

Finance Minister Piyush goyal has proposed that individuals with income upto Rs 5 lakh will not have to pay any income tax for FY2019-20.

In the previous budgets also, the Narendra Modi led-government provided tax relief to taxpayers. In Budget 2014, the minimum tax-exemption limit was raised from Rs 2 lakh to Rs 2.5 lakh. Along with that deduction, limit under section 80C was hiked by Rs 50,000 to Rs 1.5 lakh and deduction on interest paid on a housing loan to Rs 2 lakh.

Currently, income up to Rs 2.5 lakh for resident individuals (age below 60 years) is exempt from tax. Similarly, for senior citizens aged 60 years and above but below 80 years, income up to Rs 3 lakh is exempt from tax. Income up to Rs 5 lakh is exempt from tax for super senior citizens (age 80 years and above).

In Budget 2017, Jaitley slashed the tax rate for income between Rs 250,001 and Rs 5 lakh to 5 per cent from 10 per cent earlier. This rate cut gave a tax relief of Rs 12,500 to every taxpayer.
Income tax rates for individuals below 60 years is as follows: No tax on income up to Rs 2.5 lakh, 5 per cent tax on income between Rs 250,001 to Rs 5 lakh; 10 per cent tax on income between Rs 500,001 and Rs 10 lakh; and 30 per cent tax on income above Rs 10 lakh.

For senior citizens (aged 60 years or above but less than 80 years), income up to Rs 3 lakh is exempt from tax. Income from Rs 300,001 to Rs 5 lakh is taxed at 5 per cent, from Rs 500,001 to Rs 10 lakh at 20 per cent and above Rs 10 lakh at 30 per cent.

For super senior citizens, aged 80 years and above, income up to Rs 5 lakh is exempt from tax. Income from Rs 500,001 to Rs 10 lakh is taxed at 20 per cent and above Rs 10 lakh is taxed at 30 per cent.

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Indian Government: 7th Pay Commission Budget 2019 expectations

Indian Government: 7th Pay Commission Budget 2019 expectation

Budget 2019

Tomorrow (February 1, 2019) Finance Minister Piyush Goyal present Narendra Modi government's sixth and final Budget. Weeks before General Elections, it is an interim budget. Yet, expectations are rife about big bang announcements in the wake of upcoming elections.

Budget 2019 - Central Government employees have been demanding for long salary hike beyond the recommendations of the 7th Pay Commission. The budget is expected to address the fitment factor and minimum pay hike demand. The central government employees have been demanding a hike in the minimum pay scale to Rs 26,000 from the current Rs 18000 along with a fitment factor of 3.68 times from the present 2.57 times.

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