New Delhi, Jan 4 (IANS) Pitching against the secrecy of General Budget, the RSS affiliated Bharatiya Mazdoor Sangh (BMS) on Monday demanded a total revamp of the process.
“Total revamping of the process of Budget preparation is required. This is the age of transparency and RTI. So the secrecy of Budget, which is a colonial relic, needs to be abandoned,” BMS said here in its charter of demand.
The BMS held pre-budget consultations with Finance Minister Arun Jaitley a few days ago.
The trade union affiliated to the Rashtriya Swayamsewak Sangh (RSS) also sought participation of social sector representatives for a people-oriented budget based.
“Instead of mere consultation, participation of social sector representatives, mainly trade unions, in the Budget process and overall economic governance is required,” it said.
“It is time for the government to come out with a people-oriented Budget, since nearly 50 percent of the population is below poverty line. Common man should be its beneficiary,” it added.
“There is a gross mismatch between the aspirations of the people and the slow progression of social transition. Paltry concessions or charity in the budget cannot change the economic condition of the people,” the BMS said.
It also demanded income tax exemption limit to be raised to at least Rs.5 lakh.
“Today, even the direct tax system is heavily dependent on the medium salaried people; and high income group is largely left to enjoy their affluence. Compulsory PAN card system is also burdening more on the savings of the medium salaried people.”
“So the income tax limit has to be raised to at least Rs.5 lakh as recommended by Yashwant Sinha Committee because the inflation, especially food inflation, is soaring sky high,” it said.
The BMS, that had been voicing its opinion against Foreign Direct Investment, said the idea that FDI is a panacea for all economic maladies has to be discarded.
“On the other hand, our manufacturing, industrial, agricultural and service sectors have to be strengthened,” it said.
The labour organisation also demanded a Workers’ Bank to be opened for the general interest of the workers. It has also sought that the sale of PSUs for generating funds for running the government should be stopped.
“Disinvestment is, in fact, a distress sale of the properties gained by the ancestors in government. Sale of PSUs for generating funds for running the government is to be stopped forthwith. It is a sign of failure in revenue generation,” the BMS said.
The BMS welcomed the principle of “One nation one tax” in the form of GST bill, and said, “It’s a good beginning in that regard. Tax structure has to be more people/employee friendly”.