statement by Ms Amarjeet Kaur General Secretary AITUC on the Union Budget 2024

All India Trade Union Congress (AITUC)

Press Statement

[July 23, 2024]

The following preliminary statement by Ms Amarjeet Kaur General Secretary AITUC on the Union Budget presented today.

Budget 2024 – 25 – A Document of betrayal

Budget gives no hope to the labour, farmers, unemployed, and the have-nots

It deceives the students, women and elderly

Finance Minister Nirmala Sitaraman has presented budget for 2024-25, the seventh presented by her in a row. This is yet another pro-rich and pro-corporate budget that is characteristic of BJP. Cushioned on the financial survey that projected a fake picture of economy and growth with fudged figures, the budget with a bleakest of road map for “Viksit Bharat†remain an empty document deficient to address the real issues that plague the country.

The Finance Minister began her discourse by claiming that her budget is for all people without discrimination on the grounds of religion, caste, gender and age, whereas we know its record on this count for last decade, and recently we witnessed how contrary to this claim the religion became a tool to target a minority community in BJP ruled states during Kanwar- yatra to hit their economy. The women had immense suffering in the rule of this Government, youth confronting unemployment and the interest on the savings of the elderly persons reduced.

She also claimed that inflation was low and stable during their rule. This is also a cruel joke on the people who are crying under the regime of unprecedented price rise in essential commodities. There is no road map or committment to control the prices.

Anndata (Farmers) do not find any solace as the promises are broken and there is neither a scheme to give relief from indebtedness or the MSP as per Dr Swaminathan formula. She announced for continuity of ration to 80 crore poor under the already on-going Pradhan Mantri Scheme, but this budget does not address to uplift them from poverty and drudgery for a life of dignity. Food inflation is too high that even the financial survey could not hide. Wages of workers remain low and the budget fails to address. How does consumption increase?

In all her nine priorities she mentioned, if you look closely, it is actually set of proposals for ease of doing business.

There is no specific proposal for job creation, except that some sectors will be incentivised to enhance business which she claims, would provide jobs. The focus is on skilling and not on jobs for millions who are already skilled but without jobs and engage themselves in any work temporarily or casually to earn for survival.

The workers are once again told that there will be E-shram portal, but no talks of enhancement of wages or the guaranteed wages. Nothing about their safety measures or social security coverage. The budget offers nothing to the workers in the unorganised sector who constitute over 90% of the workforce. The social security to the unorganised workers promised in the interim Budget 2024 presented on the eve of the elections to the Lok Sabha has not seen the light of the day.

The Government has refused the demand of revival of Old Pension Scheme, and claimed for committee working on amendments to New Pension Scheme.

Women Workforce participation rate in India is declining in the last one decade. Gender wage gap in India is the widest in the world. While this is the dimension of the issue, the schemes to open Working Women hostels and creches to ‘empower women’ is simply pettifogging and trifling the huge socio-economic problem. Implementation of minimum wages act, Equal Remuneration Act, Maternity Benefit Act etc have been the demands of the trade unions to address these issues.

No report card on earlier promised smart-cities and another dream being sold in the name of urban development. The policy in place on hawkers and vendors is not being implemented, they are devoid of facilities in their weekly markets but this budget just talks of food city hubs creation.

In the name of infrastructure creations, the private sector is to be the major beneficiary.

In the announcement of next generation reforms, the real intent comes to the forth with. It clubs everything -Production, Markets, Land, Labour, Skill and therefore the policies announced are to incentivise to promote its fundamental policy understanding of every road to lead to ’Ease of Doing Business’

The concession on custom duties is to hit hard the indigenous industry and would result in expensive health facilities for common masses, the natural resources- the minerals of our own country, the mining economy to be hit hard in the interest of Corporates. Budget proves that the BJP has listened and given in to the demands of gold and jewellery industry. Customs duty on gold, silver, gems and platinum reduced making them cheaper. Mobiles phones and leather goods will be cheaper.

The tax on foreign corporates reduced from 40 to 35 percent. The Corporates tax not increased, neither wealth tax and inheritance tax introduced.

The fiscal will be difficult to handle and once again the poor, lower- and middle-class families will face the hardship when the prices increase and the more Cess on various items comes into play.

The way the special packages announced for two states of its allies while denying them the special status, for their states NDA government budget appeared to be an exercise to keep the flog together to survive their government.

Amarjeet Kaur

Mobile No.9810144958