Union Budget 2025 will be introduced by Finance Minister Nirmala Sitharaman on February 1, and the middle class is eagerly waiting for good news regarding the income tax rebate. Many organizations related to the RSS raised various proposals during the pre-budget session to Sitharaman; these were mostly concerned with income tax and some measures to further the major sectors of the economy.
Among all these measures, some of the main proposals were increasing the limit of income tax exemptions to Rs 10 lakh. Some of the speakers, including Pavan Kumar of Bhartiya Mazdoor Sangh, pointed out that the fee waivers for taxpayers have to be increased further. They also recommended one package devoted to agriculture, plantation, beedi, and fishery, which units rely more on manpower.
The BMS also proposed to expand MGNREGA to guarantee 200 working days per family in a year, up from 100 at the moment. In making this motion, they said that it would enhance employment opportunities for the people in the rural areas as well as the families in the economically challenged areas.
Other demands were the demands to adopt the 8th Pay Commission and the demands to scrap NPS and adopt OPS and UPS for better social security. For pensioners, the organization called for the scrapping of tax liabilities on pensions and increased the timeframe for calculating gratuities from 15 to 30 days a year.
The BMS also stressed the importance of a proper manufacturing plan to check the flood of Chinese products and to fast-track the GST refund. These measures, they say, would help fortify domestic industries and improve the capacity to withstand adverse economic effects.
Hence, the imminent Union Budget is expected to carry out major outcomes that will respond to the issues affecting distinct groups in society, more so labor-intensive industries, and middle-income earners.
Join our whatsapp group for Latest updates