The Union Finance Minister Arun Jaitley assured the representatives of various trade unions that the government has no intention to privatise either railways or Coal India. He said that focus of his Government is to create more jobs and employment opportunities beside safeguarding the existing jobs and give better environment for ease of living for the common man.
The Finance Minister said that's why we need more money for investment in infrastructure sector in order to create more job opportunities for our youth.
He said that our approaches may be different but goal is same. Jaitley was making the opening remarks during his Pre Budget Consultative Meeting with the representatives of Trade Union Groups here today. He said that the Government wants to create better social security system for the labour force working both in organized and unorganized sector.
Jaitley said that more than 63% of population in our country is in age group of 15-59 years which is defined as India's ''demographic dividend''. The challenge for the country now is in planning and acting towards converting its ‘potential’ into enhanced opportunities of growth by dovetailing the quality of manpower through skill development etc.
The Finance Minister mentioned that according to an Indian Labour Report (2007), 300 million youth would enter the labour force by 2025. The main issue to address today is not just providing employment but of increasing the employability of labour force in India.
He said that skill deficit among the labour force has been recognized as a major factor that drives a large number towards low income levels and perpetrates inequality. Consequently, the Finance Minister said that the thrust on skill development as well as on 'Make in India' are Government's endeavors to improve employability and generate employment avenues.
Other suggestions include to keep prices of food items and other essential items under check, increase in purchasing power of common man, make living easies for them, revival of viable sick industries, post budget interaction with representatives of trade unions, expansion of MGNREGA to all the districts and increase in number of working days to 200, more allocation of funds in budget for social sector including health and education sector and 10% cut in defence expenditure, no privatization of coal, railways and insurance sectors, PF Act be amended to cover every employee/worker under EPF Act, and role of labour market institutions be strengthened among others.
Other suggestions include raise in Corporate tax, impose tax on SEZ and FDIsand use this for enhanced social security expenditures, convergence of all medical schemes and benefits into one scheme for the benefit of unorganized sector workers, support price for tea, rubber, cardamom and other agriculture products , budgetary support for traditional industries like jute, textiles, handloom, silk and carpet, establish universal PDS, and special package to retrieve the closed and abandoned plantations etc. among others.