Skill development to be given priority, says Jaitley

Tags: News
Finance Minister Arun Jaitley today said the government will stress on skill development so that a trained workforce can galvanise the economy, even as trade unions urged him not allow FDI in defence, railways and retail.

"Skill development will be given priority so that more and more trained workers enter the economy," according to an official statement after Jaitley met representatives of central trade unions.

Jaitley said the government would give "due consideration" to the 10-point joint charter of demands submitted by the unions during the pre-budget meeting.

This was Jaitley's third pre-budget consultation following meetings yesterday with representatives from the agriculture and social sectors.

Minister of State for Finance Nirmala Sitharaman and senior officials of the Ministry of Finance and the Ministry of Labour and Employment were present at the meeting.

Representatives of the Bharatiya Mazdoor Sangh, Indian National Trade Union Congress, All India Trade Union Congress and Centre of Indian Trade Unions (CITU), among others, participated in the meeting.

In their charter, the unions said that "FDI should not be allowed in crucial sectors like defence production, telecommunications, railways, financial sector, retail trade, education, health and media."

Their other demands include strengthening and expansion of public sector units and a halt to disinvestment of profit making state-owned enterprises.

CITU's General Secretary Tapan Sen said that to contain rising prices, futures trading and speculation in the commodity markets should be banned.

The unions also want proper allocation of funds for the 7th Pay Commission, raising the income tax exemption ceiling for the salaried class to Rs 5 lakh and 'massive' investment in infrastructure to stimulate the economy for job creation.

The trade unions also sought post-budget meetings with the finance ministry, they said in a statement.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • State-owned banks can ride technology surge to penetrate retail segment

    For the first time in recent history, two large private sectors banks, ICICI and Axis have reduced their headcounts.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

The rabbit hole of outcome budgets

Would you tell me, please, which way I ought to ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture