Pensions and MNREGA workers will increase: Announcements will be made in the general budget

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Pensions and MNREGA workers will increase: Announcements will be made in the general budget
Aajkaal Daily 12 December 2017 11:28

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Under the social security schemes like old age and widow pension, insisting on raising the pension amount to 500 paisa, prominent economists of the country have suggested to increase the labor of MNREGA. He has also endorsed all the tax liabilities found in the industry and suggested to reduce the rate of corporate tax to 20%.
Economists gave this suggestion during the discussion with Finance Minister and Jaitley in the General Budget 2018-19. He also introduced the status of various sectors of the economy to the Finance Minister. Many senior economists were included in the meeting, including Deputy Chairman Rajeevkumar and a member of the policy-making and Prime Minister's Economic Advisory Council, Vivek Debroy.
Economists gave the finance minister a suggestion to announce a general budget for tax reforms with cuts in corporate tax rates. The finance minister has insisted on putting a roadmap in the next general budget to make GST rates rational and to improve its career and encourage small and medium businesses. At present, corporate tax rate is 30%. Finance Minister Jaitley has announced to reduce tax in his previous budget speech. However, the government has not taken any specific steps in this direction right now. Economists have also suggested to raise additional financial funds through disinvestment of public undertakings to compensate the fiscal losses. On the social front, economists have raised the amount of old age pension from 500 paisa to 500 paisa and widowed the widow pension from 300 to 500 paisa.
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