Pre-Budget Consultation in connection with the forthcoming General Budget 15/06/2019 – Posted in: Press Information Bureau

Pre-Budget Consultation

(Ministry of Finance)

WHAT

MoS (Finance & Corporate Affairs) holds Pre-Budget Consultation with representatives of various Trade Unions and Labour Organisations in connection with the forthcoming General Budget 2019-2020.

 

HIGHLIGHTS

Various views and suggestions are shared regarding:

  • Labour and employment issues.
  • Providing social security to labour.
  • Skilling, re-skilling and up-skilling of existing labour force.
  • Ensuring minimum wages of workers.
  • Rehabilitation of workers who have lost their jobs.
  • Skill development with aspirations of rural youth with focus on agriculture.
  • Strict enforcement of Minimum Wages Act.
  • Introduction of comprehensive unemployment insurance scheme.
  • Revision of ITIs’ syllabus for enhancing employability
  • Provision of social security for contract workers
  • Giving boost to capital intensive industry
  • Conversion of casual/contractual workers to formalised employment
  • Fixation of minimum wages on the recommendation of 15th Indian Labour Conference
  • Increase in allocations on social sector and basic essential services like health, education and food security
  • Stopping disinvestment and strategic sale of public sector units
  • Extension of MGNREGA to remaining all rural areas and introducing it in urban areas besides increasing number of workdays under the scheme to 200 days
  • Creation of National Fund for Unorganised Workers to provide social security among others.

 

ANOTHER MEETING

MOS (Finance and Corporate Affairs) holds Pre-Budget Consultations with the representatives of Digital Economy and Start-Ups in connection with the forthcoming General Budget 2019-20.

 

HIGHLIGHTS

The main areas of discussion during the aforesaid Meeting included:

  • Data Issues such as use of Big Data technology in improving the forecasting of Economic, Financial, climatic etc. phenomena by analysing large data sets
  • Use of Big Data Technology for SME Sector and unleashing the power of Big Data for Public Governance.
  • Digital Infrastructure & Role of Government
  • Regulation of Digital Economy especially in privacy, Consumer protection and Financial Regulation and Software as service among others.
  • Various suggestions regarding Big Data, data mining, building of digital infrastructure as the big challenge before Indian economy besides scaling-up and incentivising Research & Development (R&D)within India.
  • Various suggestions regarding development of Start-Ups and Micro Small and Medium Enterprises (MSME) eco-system in the country.
  • Experts and representatives gave suggestions related to enhancement of public services through data analytics
  • Development of efficient citizen-Government interaction by development of public services applications
  • Building big data capacity for MSME sector
  • Inter-linkages and data sharing within the Government and with private players
  • Suggestions related to Angel Tax
  • Need for assessment and dealing with digital frauds especially cross border digital frauds and deceptive practices and setting-up of an Agency to deal with them
  • Incentivize Indian IP Products and Funding of Open Source Innovation
  • Differential tax structure for assembled and manufactured goods
  • Instituting advanced mobile communication, need for separate mobile and fixed landline bandwidth for business and entertainment
  • Industry-friendly review of spectrum auction norms
  • Reduction of dependence on international software service providers and increased support to domestic software service providers
  • Continuation of existing tax benefits to digital companies
  • Reduction in Corporate Tax
  • Tapping into Artificial Intelligence for streamlining health services
  • Development of legislation for data governance and incentivising Indian Intellectual Property professionals.

 

Source: PIB

 

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