Union Budget 2024: Every section of the country expects that they will get something from the Union Budget. There will be such announcements for them which will increase their income and reduce their expenses. This year too, the Finance Minister’s special emphasis will be on similar announcements because after this budget, Lok Sabha elections are to be held in the country.
Union Budget 2024 : Every section of the country expects that they will get something from the Union Budget. There will be such announcements for them which will increase their income and reduce their expenses. This year too, the Finance Minister’s special emphasis will be on similar announcements because after this budget, Lok Sabha elections are to be held in the country. However, Finance Minister Nirmala Sitharaman has already said that there will not be any big announcements in the budget. Still, this time the bank employees of the country have many expectations from the government that announcements can be made for them in the budget.
Employees’ salaries will increase by 17 percent
Bank employees are the biggest vote bank in the country. To bring them towards its side, the government can make many announcements in the budget. An increase in the salary of bank employees may be announced in the budget in the new year. Indian Bank Association (IBA) and other bank unions have reached a consensus on salary revision by increasing the salary by 17 percent. This increase in salary will be effective from November 1, 2022.
Bank employees will get 2 days leave in a week
At present, every second and fourth Saturday of the month is a holiday in banks. If the government accepts 5 day work weeks for bank employees, then they can get 2 days off in a week. However, to avoid causing trouble to the common people, their working hours and the hours of operation of banks for customers may be increased. In view of the upcoming general elections, it is expected that the salary agreement can be signed before the elections i.e. around the budget. Bank employees are an important voter base. The last wage agreement in 2020 ended after three years of negotiations.
Employees’ salaries will increase
Bank employees may soon see an increase in their salaries in the new year. According to a statement issued on December 7, the Indian Banks Association (IBA) and other bank unions have reached a consensus on salary revision. A consensus has been reached on an annual increase of 17 percent in salary for 5 years starting from the financial year 2021-22. This increase in salary will be effective from November 1, 2022.
Finance Minister said this
Finance Minister Nirmala Sitharaman has made it clear that she will present the interim budget on February 1, 2024. Its focus will be on vote-on-account. There will be no big announcements in this. It has become clear from this statement of the Finance Minister that the government is not going to make any major announcement in the interim budget. The new government that will be formed after the Lok Sabha elections in 2024 will present the full budget in June or July. In the Union Budget for the financial year 2024-25, the government can make new announcements along with changes in the income tax rules. Earlier in 2019, the interim budget was presented.
