Budget 2017 - Government might announce a new cess in the forthcoming Union Budget 2017-18 to cover around 20,000 railway coolies under social security schemes run by the retirement fund body EPFO.
"There is a proposal from the Labour Ministry to levy a cess of 10 paisa per railway ticket to cover 20,000 railway coolies under the ambit of social security net through the Employees Provident Fund Organisation (EPFO)," a source said.
"The proposal makes a lot sense because 10 paisa cess per ticket will not burn of a hole into travellers' pockets. Besides it would help railways to mop up funds to provide social security to coolies," said the source.
This proposal is a one of the initiatives of government's overall efforts to bring over 40 crore informal sector workers under the social security net of the EPFO and others like ESIC.
According to a back-of-the-envelope calculation, levying of this 10 paisa cess will help in collecting about Rs 4.38 crore every year, which will be enough to provide basic minimum facilities like PF, pension and group insurance to coolies.
Indian Railways issues 10-12 lakh rail travel tickets everyday, including 58 per cent reserved tickets. Thus, the move can help mop up about Rs 1.2 lakh every day for the purpose.(Read More)
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