Union leaders oppose banks merger

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Trade union leaders on Wednesday opposed the government's move to merge public sector banks and demanded social security for contract labourers and stronger measures for curbing price rise at a pre-budget meeting with Finance Minister P Chidambaram in New Delhi.

The union leaders, who gave their Budget wish-list to the Finance Minister, wanted an end to outsourcing public sector jobs, restoration of public distribution system and a policy for land reforms.

CPI-affiliated All India Trade Union Congress (AITUC) General Secretary Gurudas Dasgupta described the talks as a "fruitless exercise," but did not elaborate.

The government has favoured consolidation among state-run banks to take on competition. State Bank of India is already set to merge its seven associate banks with itself.

The union leaders expressed concern at the way contract system armed companies with the power to hire and fire employees. They demanded a comprehensive labour policy that would ensure jobs safety, besides provide them social security.

They also sought greater funds allocation for development of social infrastructure like health care, education, uninterrupted water and power supply and jobs creation.

"We have demanded for a larger budget and also suggested to introduce a comprehensive 'Tax System' to generate funds to allocate for such demands. The tax system should be progressive. We asked the minister to make a system where rich will pay for the food of poor," said Dasgupta.