Finance Bill 2023: Finance Minister’s big announcement on pension of government employees, proposal in Finance Bill

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Finance Bill 2023: Union Finance Minister Nirmala Sitharaman presented the Finance Bill 2023 in the Lok Sabha on Friday. During this, the opposition MPs created a ruckus regarding the Adani-Hindenburg issue.

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There was a demand from the MPs of the opposition parties that a JPC should be constituted regarding this matter. The Finance Bill 2023 was passed amid much hue and cry. During this, Finance Minister Nirmala Sitharaman said that there is a need to improve the National Pension System implemented for government employees.

Will be formed under the leadership of the Finance

Secretary The Finance Minister said that I propose to constitute a committee to look into the matter related to the pension of government employees. This committee will be constituted under the leadership of the Finance Secretary. Earlier, he said that such representations have been received that there is a need for reform in the National Pension System (NPS) applicable to government employees. Apart from this, the Finance Minister said that credit card payments are not being accepted on foreign visits under the Liberalized Remittance Scheme (LRS). This should also be seen by RBI.

Finance Bill 2023 proposes to exempt from capital gains tax debt

mutual funds that invest less than 35 percent of their assets in equity, according to reports. It is proposed to keep such investors separate from long term capital gains tax. In this way only short term capital gain tax will be applicable on mutual funds. Holders of such mutual fund schemes, who invest 35 per cent of their assets in equity shares after getting the approval of the House, will be taxed as per the slab.

Demand to restore the old pension scheme

Let us tell you that there is a demand from the central and state government employees to restore the old pension scheme. The old pension (OPS) has been restored by the governments of Himachal Pradesh, Punjab, Chhattisgarh, Rajasthan and Jharkhand. Employees of some other states are planning to go on strike demanding restoration of old pension. Meanwhile, a strict warning has been issued by the Central Government for the employees. On behalf of the central government, a warning was given to protest or sack the employee who went on strike.

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