New Delhi: Bharatiya Mazdoor Sangh (BMS) on Saturday, February 1 welcomes the Union Budget 2025-26, presented by Union Finance Minister (FM) Nirmala Sitharam.
“The budget contains multiple provisions aimed at improving the lives of the working people of this country,” said the trade union in an official statement issued hours after the FM presented the budget before the parliament.
“BMS has been advocating for an increase in the income tax limit for some time now, and we deeply appreciate that the government has listened to us and taken our suggestions into account. The budget is forward-looking and is designed to enhance opportunities for both job creation and self-enterprise,” added the release.
Praising the revision of the income tax limits which now allow a tax-free income up to Rs12 lakhs, the labour welfare body terms the announcement a much-needed relief for the middle class and the working population
“The revision of the income tax limit offers much-needed relief to the middle class and the working population, enhancing their financial well-being. There will be no income tax payable for incomes up to 12 lakhs,” read the statement.
Bharatiya Mazdoor Sangh Welcomes the Union Budget 2025-26. #Budget2025 #UnionBudget2025 #UnionBudget @FinMinIndia @nsitharaman @nsitharamanoffc @PMOIndia @AshwiniVaishnaw @DOPPW_India @LabourMinistry @mansukhmandviya @narendramodi @MinistryWCD #gigworkers @BmsBojji @MIB_India pic.twitter.com/HwIjdy76BE
— Bharatiya Mazdoor Sangh (@BMSkendra) February 1, 2025
The labour union also welcomes the FM’s announcements of support to Pisciculture, creation of jobs (22 lakhs) in the leather industry, along providing loans up to Rs 10 crores and 20 crores for Micro Small and Medium Enterprises (MSMEs) and start-ups respectively.
The union body further hails the enhancement of the Kisan Credit Card (KCC) limit to Rs. 5 lakhs along provisions for cheaper interest rates for farmers. It also praised the announcements of up to Rs 5 lakhs loan for dairy farmers and constitution of Makhana board.
BMS further praises the inclusion of gig and platform workers in the social security framework, enabling their registration on E-Sharam portal along the announcement of a health cover for them.
The labour body also welcomes the announcement of new income tax proposals along the relaxation in tax benefits for senior citizens which has been raised from Rs50, 000 to 1, 00,000. It further praised the announcement of Rs10 lakh crore infrastructure funds aimed at infrastructure development along job creation.
The trade union body, though reiterated a few of their prominent demands linked to EPS-95 pensioners, recognisation of scheme workers as permanent workers, adequate budget for unorganised sector like beedi, plantation etc. and the need to raise the ceiling for ESI and EPF coverage, stating that the government should address these issues within the ambit of this budget.
Notably BMS had submitted several of its demands and suggestions ahead of the Union budget to the Union Finance Minister. The suggested measures were given during the pre-budget consultation on January 6
The union body in the letter submitted to FM had come up with demands and suggestions linked with the unorganized sector, social security, employment, labour codes and contractual workers. Furthermore, the labour union has also emphasized on constituting the 8th pay commission and to raise income threshold for income tax to 10 lakhs.
Founded in 1955, Bharatiya Mazdoor Sangh is one of the largest trade union body, working effectively for the upliftment of workers of both organised and unorganised sectors across the country.
Comments