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FM Proposes Panel To Look Into Issues On Pension For Government Employees

The committee will also evolve an approach to address the needs of employees while maintaining fiscal prudence.

<div class="paragraphs"><p>Finance Minister Nirmala Sitharaman. (Photo: Nirmala Sitharaman/Facebook)</p></div>
Finance Minister Nirmala Sitharaman. (Photo: Nirmala Sitharaman/Facebook)

Finance Minister Nirmala Sitharaman, on Friday, proposed setting up a committee to look into the issues related to pension for government employees.

The committee will also evolve an approach to address the needs of employees while maintaining fiscal prudence.

While moving the Finance Bill 2023 in the Lok Sabha for consideration and passage, Sitharaman also said the RBI will look into the issues related to credit card payments for foreign tours not being captured under the Liberalised Remittances Scheme (LRS).

Representations have been received that the national pension system for government employees needs to be improved, Sitharaman said. "I propose to set up a committee under the finance secretary to look into this issue of pension and evolve an approach which addresses the need of employees while maintaining fiscal prudence to protect the common citizens. The approach will be designed for adoption by both central and state governments," the minister said.

Sitharaman further said it has come to notice that payment for foreign tours through credit cards are not being captured under LRS and such payments escape tax collection at source.

"RBI is being requested to look into this with a view to bring credit card payments for foreign tours within the ambit of LRS and tax collection at source there on," she announced.

Several opposition members were in the well of the House raising slogans demanding the setting up of a joint parliamentary committee probe into the allegations against the Adani Group of companies.