The trade unions want the government to ban futures trading in food items to check spiraling food prices that has severely hit the common man and taken food inflation to uncomfortable level of 18.32% for week ending December 25.
In a pre-Budget meeting with FM Pranab Mukherjee, the central trade Unions represented by BMS, INTUC, AITUC, CITU and others, urged the government to combat price price firmly and within a specified period of time. As a mark of protest to the government?s inability to contain prices, the unions have also also decided to gherao the Parliament.
?All trade unions, in a single voice, have told that price rise must be contained. If you (the government) are serious to contain price rise then put complete ban on futures trading in commodities,? Centre of Indian Trade Unions general secretary Tapas Sen said after the meeting with Mukherjee. Currently, futures trading is banned on rice and pulses like toor and urad but allowed in other commodities.
In their presentation clearly aimed at seeking reversal of several reform initiative of the government, the union asked the finance minister to put an end to its disinvestment policy and drop any plan to allow foreign direct investments in the multi brand retail sector.
In their joint memorandum to the finance minister, the unions also sought that big corporates and multinationals should not be allowed in banking operations.
Making a case for more money in the pockets of the salaried class, especially during the present price rise, the unions asked FM to raise income tax exemption ceiling to Rs 3 lakh per annum and exempt them from tax on fringe benefits like housing, medical and educational facilities.