Bharatiya Mazdoor Sangh (BMS) welcomes the Union Budget 2025-26, presented today by Smt. Nirmala SItharam Ji before the parliament. The budget contains multiple provisions aimed at improving the lives of the working people of this country. BMS has been advocating for an increase in the income tax limit for some time now, and we deeply appreciate that the government has listened to us and taken our suggestions into account. The budget is forward-looking and is designed to enhance opportunities for both job creation and self-enterprise. Welcome provisions: 1. Support for Pisciculture – Loans up to Rs. 5 lakhs have been made available to promote the fisheries sector, providing a boost to small-scale fish farmers.2. Employment in the Leather Industry – The budget proposes the creation of 22 lakh new jobs in the leather industry, significantly contributing to employment generation.3. MSME Support – Loans up to Rs. 10 crores have been sanctioned for Micro, Small, and Medium Enterprises (MSMEs), empowering small businesses and fostering economic growth.4. Start-up Promotion – Startups to get loans of up to 20 crores. This will enhance the innovative nature of Indian entrepreneurs.
Agriculture Sector Support – The enhancement of the Kisan Credit Card (KCC) limit to Rs. 5 lakhs, along with provisions for cheaper interest rates for farmers, will provide significant relief and promote agricultural productivity. 6. Dairy – Loan of upto 05 lakhs for dairy farmers. 7. Inclusion of Gig & Platform Workers – Registration on the E-Shram portal has been opened for gig and platform workers, ensuring their recognition and inclusion in the social security framework. Additionally, the announcement of a health cover for them is a commendable step towards worker welfare.8. New Income Tax Proposals – The budget includes a proposal for new income tax rules, simplifying the tax structure and providing greater clarity for taxpayers. TDS will not be deducted for incomes upto 06 lakhs. Updated returns can be filed for up to 4 years. 9. Relief for Middle-Class and Working People – The revision of the income tax limit offers much-needed relief to the middle class and the working population, enhancing their financial well-being. There will be no income tax payable for incomes up to 12 lakhs. 10. Enhanced Support for Senior Citizens – The relaxation in tax benefits for senior citizens has been raised from Rs. 50,000 to Rs. 1,00,000, offering major relief and financial security in old age.11. 82 items made custom duty free: 12. Infrastructure fund: A 10 lakh crore fund for infrastructure development is a welcome step, which will both create job opportunities and enhance standard of living for millions. 13. Makhana Board: Constitution of a Makhana board has been announced. While the budget is really welcome and forward looking, some important issues have not been included in the budget announcement. We hope that hon’ble finance minister will address the below mentioned issues soon: 14. About 75 lakh EPS – 95 pensioners expected hike in the minimum pension but the government has not addressed this in the budget. 15. BMS has requested the government to ensure that scheme workers particularly those working in successful schemes like Aasha, Aanganwadi and MDM be recognised as permanent workers and be given equal status but the budget has failed to address this pressing issue 16. BMS had pointed that Unorganised sector boards like beedi, plantation etc. needed to be provided with adequate budge 17. BMS has time and again raised that there is an urgent need to raise the ceiling for ESI and EPF coverage. Lakhs of working people who are currently devoid of its benefits await such an increase in ceiling for coverage in both the schemes. We hope that the government will address these issues and bring them within the ambit of this budget.
