Nationwide Protest by Trade Unions on 5th February against 'Pro-corporate' Budget
Moneylife Digital Team 04 February 2025
Trade unions across the country are set to stage a nationwide protest on 5th February against what they describe as an 'anti-worker, anti-farmer and anti-people' Budget for the financial year (FY)25-2026. The demonstration, organised by 10 central trade unions and independent sectoral federations and associations, calls upon the public to join them in expressing dissatisfaction over the government's economic policies.
 
Trade union leaders argue that the newly-announced Budget overwhelmingly favours corporate interests, while ignoring the needs of ordinary citizens. "Despite demands for an increase in corporate tax and the introduction of wealth and gift taxes to generate revenue, the government has instead imposed indirect taxes and additional cess, shifting the financial burden onto the general population," the unions said in a statement. 
 
Critics have accused the Indian government of using the Budget to push pro-employer policies under the guise of the 'ease of doing business' initiative. Labour codes that favour employers over workers have been reinforced, while monopoly corporations continue to receive financial and regulatory advantages.
 
"This budget offers no relief from the rising cost of essential commodities, job losses, and stagnant economic growth," says CH Venkatachalam, general secretary of All India Bank Employees Association (AIBEA). "It is yet another setback for workers, farmers, unemployed youth, students, and women."
 
The Budget's announcement of 100% foreign direct investment (FDI) in the insurance sector has also sparked concerns. Trade unionists argue that such a move could jeopardise the country's economic stability and negatively impact common citizens and farmers. Additionally, the continuation of the national monetisation pipeline policy, which involves the privatisation of public sector enterprises and infrastructure, has been labelled as a deliberate strategy to hand over national assets to corporate entities.
 
Opposition groups claim that the government's policies have exacerbated economic inequality, with corporate wealth increasing by 22.3% while wages of self-employed and salaried individuals have seen a significant decline. 
 
According to the Economic Survey, self-employed men witnessed a 9.1% wage reduction, while women in the same category saw a staggering 32% drop. Salaried male workers faced a 6.4% decrease in wages, whereas their female counterparts experienced a 12.5% decline.
 
"Employment growth has remained sluggish, expanding by only 1.5% despite government claims of economic recovery. Rising education and healthcare costs further strain lower and middle-income households, making the tax relaxation benefits announced in the budget largely ineffective," the unions say.
 
Many protesters believe that the Budget's provisions are politically motivated, particularly ahead of the upcoming elections in Delhi and Bihar. The unions argue that the government has a track record of announcing schemes with little to no follow-through on implementation.
 
"The so-called increase in the tax slab for the middle class is nothing more than a propaganda tool for election gains," Mr Venkatachalam says. "Meanwhile, essential services such as education, healthcare, and employment generation continue to be ignored."
 
Despite repeated demands for increased funding for rural employment schemes like MGNREGA, the budget has not only ignored these requests but has, in practical terms, reduced allocations. Similarly, trade unions' calls for an urban employment guarantee scheme have gone unheeded. The reduction in railway budgets is another point of contention, with many fearing a decline in safety standards and an acceleration of privatisation efforts in the sector, the unions say.
 
"Additionally, vital social welfare schemes, including ICDS, ASHA, and mid-day meal programmes, have seen funding cuts. These reductions will directly impact marginalised and lower-income groups who rely on these services for sustenance and livelihood."
 
The finance minister's emphasis on incentives for employers to generate jobs has been met with scepticism. Protesters argue that similar schemes in the past have failed to deliver on employment promises and have primarily benefited corporate entities.
 
Moreover, while the government continues to invest in nuclear and atomic energy, it is simultaneously moving towards the privatisation of the electricity sector, raising concerns over national security and energy accessibility for ordinary citizens.
 
Trade unions have also raised alarms over the government's attempts to weaken labour movements by reducing inspections and decriminalising violations. This, they argue, is a direct attack on the rights of workers and the collective bargaining power of unions representing millions of employees across various industries.
 
With grievances mounting, trade unions have vowed to mobilise the working class, farmers, students and other affected groups to take part in the mass protest on 5th February. They demand immediate policy changes that prioritise social welfare over corporate profits and a more equitable distribution of national resources.
Comments
parimalshah1
4 days ago
Obviously, the INC cannot see the middle class enjoying their hard-earned money for themselves. The royal family believes that only the royal family has the right over the hard-earned money of the tax- payers so that they can enjoy it, plunder it, and give small alms to their minority (read Muslims) vote bank. They need to instigate their labor unions to start creating trouble when there is none otherwise the existence of the party itself will be in jeopardy.
BR
4 days ago
I got your report only today. Tomorrow is 5th, the protest day,giving me no time to help.
NRIs in MORE trouble AGAIN.
The Times Of India
Dear Reader,
Your comment on the article 'Budget 2025 tightens tax rules for NRIs: What Indian students and professionals abroad must brace for' is now displayed on timesofindia.com.
'India budgeted grant to Bangladesh & SriLanka which attack Indians at sea & Land & to Develop Gujarat much more than other states & Bihar & help build Memorial for Former opposition party Minister, public stunt for private purpose after retirement & votes. NRI & others must not vote for them.A robber robbed wayfarers & took their jewellery, Money,& made them poor. People hated him. He told his son to redeem his name. The son robbed all even clothes. People said that the former robber was not so bad as he let them keep their clothes but his son took away even their honour. Former robber is former ruling party. India shelters Bangladeshis illegal immigrants & descendants for votes even before 1971 war & makes us pay for them. It levies fines on People who work hard, earn & pay tax or save from tax. There is no limit to tax & those who try to Dave will be punished in many ways to Mery govt 'wants' & 'needs' & 'needless' wants. India govt kills the goose that lays the Golden Eggs. Is there no Income Tax for Ministers & MPs ? It is hitting us below the belt & ALSO SQUEEZING FURTHER below it.'
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