Union Finance Minister Piyush Goyal’s budget has proposed tax breaks for the middle class and for farmers and millions of employees in the unorganised sector.
“A pension scheme is being launched called Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3000 rupees per month, with the contribution of 100 rupees per month, for workers in unorganized sector after 60 years of age”, Finance Minister said.
Meanwhile, Finance Minister Piyush Goyal on Friday announced that the gratuity limit has been increased from ?10 lakh to ?20 lakh. “High growth and formalisation of the economy has resulted in increased EPFO membership by 2 crore in last two years,” Goyal said. He added that the government contribution to the New Pension Scheme has been increased by 4% to 14%.
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