Trade Unions pre-budget joint memorandum

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Several Trade Unions, including CITU, AITUC, INTUC, HMS and BMS, in a joint memorandum to Shri Chidambaram Hon'able Minster for Finance demanded

  • Unions pitch for hiking I-T exemption limit to Rs 5 lakh/annum
  • Trade unions today demanded 12% interest on PF contributions of employees 
  • The unions have also asked the government not to raise FDI cap in financial sectors like insurance and banking.
  • Other proposals made in the joint memorandum include taking effective measures to arrest the spiralling price rise, ban speculative forward trading in commodities, massive investment in the Infrastructure to stimulate the economy.
  • The trade unions also sought minimum wage be guaranteed to all workers, special allocation for creation of a Welfare Fund for protecting the interest of unorganized workers and raising minimum wages to Rs 10,000 per month.
  • Constitution of the seventh Pay Commission be announced in the Budget

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