Policy

BMS hails note-ban, seeks Budget funds to tackle ‘side effects’

Our Bureau New Delhi | Updated on January 12, 2018 Published on January 17, 2017

The Rashtriya Swayamsevak Sangh-backed Bharatiya Mazdoor Sangh has welcomed Prime Minister Narendra Modi’s demonetisation move as a “historic” step to curb black money, corruption, fake currency, terrorism, etc.

However, the central trade union also took “serious note” of its adverse side effects and sought funds for labour and other social sector groups in the upcoming Union Budget.

In a resolution passed by its 137th Central Executive Committee meeting in Pune, BMS said: “The workers of the country have whole heartedly cooperated with the drive (demonetisation)”, adding, however, that the “immediate side effects” due to “defects in implementations, cash shortage, market slowdown, job losses, retrenchments etc,” especially in the construction sector, need to be “realistically assessed.”

“As a result of this drive, Central Government has gained huge revenue which may lead to a surplus revenue situation after a long period.

“This gives a great and rare opportunity for the government to radically contribute to the labour as well as other groups in social sector that needs developmental priorities,” said BMS, adding that it was the Centre’s “moral duty to provide colossal funds to the development of labour and other social sector groups.”

BMS also sought hike in income tax payment limit to ₹5 lakh, urgent steps to recover from the job losses, retrenchments, manufacturing slow down, market slow down etc. consequent to the demonetisation drive, aggressive push to MGNREGA among other things.

Published on January 17, 2017
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