Mazdoor Conference asks FM to enhance I-T exemption limit to Rs 3 lakh

The National Mazdoor Conference today asked Finance Minister Pranab Mukherjee to raise the income tax threshold exemption limit to Rs 3,00,000 to provide relief to the salaried class in view of steep rise in prices of essential commodities.     

On the Budget 2009-10 presented in Parliament yesterday, National Mazdoor Conference (NMC) President Subash Shastri in a statement said that Rs 1,60,000 I-T exemption limit envisaged in the Budget will not provide any relief to the fixed income group.     

He said the I-T exemption limit should be raised up to Rs 3,00,000 to provide relief to the salaried class in view of escalating price rise, especially in essential commodities.     

The NMC leader also asked the Finance Minister to provide a special financial package of Rs 8,000 crore for providing all benefits of the sixth pay commission to the state government employees and pensioners as well as payment of arrears on account of pay revision.     

Endorsing the memorandum submitted by the state government to the 13th Finance Commission, Shashtri asked Mukherjee to provide liberal funding to the state for ensuring speedy development of J&K state.