Trade Union Calls for Super-Rich Tax and EPF Pension Hike Ahead of Budget 2025

Ahead of the 2025-26 Budget, trade unions urged Finance Minister Nirmala Sitharaman to impose a super-rich tax and increase corporate tax to support informal workers' social security. Key demands include raising the EPF pension, forming the 8th Pay Commission, and providing better security for agriculture and domestic workers.

In a customary pre-budget meeting, trade union leaders proposed a series of fiscal amendments to Finance Minister Nirmala Sitharaman. Key proposals include a super-rich tax and higher corporate taxes to bolster social security for informal workers.

S P Tiwari of the Trade Union Co-ordination Centre advocated for a 2% super-rich tax and extended social security benefits to agricultural workers, with a call for fixed minimum wages.

Other demands include raising the Employees' Provident Fund Organisation (EPFO) pension from Rs 1,000 to Rs 5,000 per month, and the immediate establishment of the 8th Pay Commission. Pawan Kumar of Bharatiya Mazdoor Sangh pushed for linking pensions to Variable Dearness Allowance and increasing the income tax exemption threshold to Rs 10 lakh.

Looming large is the demand for the 8th Pay Commission, particularly with the Centre of Indian Trade Unions' Swadesh Dev Roye noting the decade-long gap since the 7th Pay Commission.

Meanwhile, the National Front of Indian Trade Unions' Deepak Jaiswal called for a dedicated budget for the Employees Provident Fund and the Employees State Insurance Corporation to support unorganised sector workers. Calls were made for formal recognition of domestic workers to grant them social security benefits.

Slated for February 1, Finance Minister Sitharaman will present the 2025-26 Budget against a backdrop of pressing calls from worker representatives. (ANI)

(With inputs from agencies.)