Budget 2024: Trade unions seek OPS, hike in tax rebate for salaried class

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Budget 2024: Trade unions seek OPS, hike in tax rebate for salaried class - Business Standard

Quick Summary:

Constitution of the 8th pay commission, increase in tax rebate for salaried class and restoration of the old pension scheme are some of the key demands made by trade union leaders during a pre-budget meeting with Finance Minister Nirmala Sitharaman on Monday.

The unions also asked the government to stop the privatisation drive of PSUs, scrap the new pension scheme and restore the old pension scheme (OPS).

"The ceiling limit for the income tax rebate for the salaried class on their salary and gratuity must be substantially raised.