Welfare Measures For Gig Workers, Jan Viswhwas Bill 2.0 : Union Budget 2025 Proposals

In the Union Budget speech, Finance Minister Nirmala Sitharaman made several significant announcements, including the proposal to bring a new income tax bill, reduction of tax slabs and changes to TDS/TCS regime.Welfare security for gig workersApart from this, the Government has decided to provide welfare security for gig workers in India. As per Sitharaman's budget speech, under the Social Security Scheme for the welfare of online platform workers, they will be provided with an identity card and registration at the e-Shram portal of the Ministry of Labour & Employment.The gig workers will also be provided with health care insurance under the Pradhan Mantri Jan Arogya Yojana"This will benefit 1 crore gig workers," she said.Decriminalisation of various provisionsIn 2023, the Government introduced the Jan Vishwas (Amendment of Provisions) Act, 2023 where more than 80 provisions related to minor offences were decriminalised. Now, Jan Vishwmas (Amendment of Provisions) Act, 2025 will be introduced with the aim to decriminalise more than 100 provisions. Provisional assessment under Customs Act As it stands now, there is no time limit for provisional assessment under the Customs Act, 1962. Now, 2 years time limit has been introduced, which is extendable to 1 year with the aim of ease of doing business. It has also been proposed to insert new provisions for enabling importers and exporters to voluntarily declare material facts and pay duty with interest but without penalty for voluntary compliance. However, this will not apply to cases where the Department has initiated audit or investigation proceedings. For MSMEsThe Finance Minister has enhanced investment and turnover limit classification for Micro, Small and Medium Enterprises to 2.5 and 2 respectively with an aim to generate employment for youth. 100 gigawatt nuclear energy by 2027The Union FM has introduced the "Nuclear Energy Mission" and proposed amendments to the Atomic Energy Act, 1962 and the Civil Liability for Nuclear Damage Act, 2010 to facilitate private participation.Foreign Direct Investment Last year, India signed Bilateral Investment Treaties with two countries namely UAE and Uzbekistan. This year to encourage Foreign Direct Investments(FDI), the 2015 model BIT will be revamped with the aim to make it more "investor-friendly".The budget speech can be read here.Finance Bill 2025 can be read here.

Welfare Measures For Gig Workers, Jan Viswhwas Bill 2.0 : Union Budget 2025 Proposals

Gursimran Kaur Bakshi

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