Budget 2024: Union Finance Minister Nirmala Sitharaman will present the budget (Union Budget 2024) for the sixth time on 1 February 2024. Nirmala Sitharaman is going to present the last budget of the second term of the Modi government because after that Lok Sabha elections are going to be held across the country.
Budget 2024: Union Finance Minister Nirmala Sitharaman will present the budget (Union Budget 2024) for the sixth time on 1 February 2024. Nirmala Sitharaman is going to present the last budget of the second term of the Modi government because after that Lok Sabha elections are going to be held across the country. In such a situation, the government can make a special announcement to capitalize on its vote bank, especially the employed people. The government can make an announcement regarding bringing labor laws in the budget. The government has been planning to implement the labor law across the country for a long time, but due to lack of consensus among the states, there is a delay in implementing the law. However, Finance Minister Nirmala Sitharaman has said that no major announcements will be made in the budget but the government can make some special announcements for its vote bank.
Holidays given to employees may increase
Earned leave holidays of employees may increase from 240 to 300. Modi government can decide to increase the earned leave of employees. There was a lot of discussion regarding the labor law regarding the rules of the Labor Code and the Labor Ministry, Labor Union and representatives of the industry. In this, there was a demand to increase the earned leave of employees from 240 to 300. However, the government has not yet made any announcement on this.
Government can make this announcement regarding employees
A decision was also to be taken on the demand raised by labor unions to increase the limit of PF and earned leave. People associated with the union want the limit of earned leave to be increased from 240 to 300 days. New laws related to labor reforms were passed by the Parliament in September 2020. Now the Central Government is trying to implement these as soon as possible. The rules of Labor Code also include basic salary being 50% or more of the total salary etc. This will change the salary structure of most employees. If basic salary increases, the amount deducted in PF and gratuity will increase. This will reduce the salary in hand. This can increase the PF fund received on retirement.
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