Revised Maharashtra Minimum Wages for Shops and Establishments

In an updation made to the Maharashtra minimum wages, the government has amended the rates applicable to those employed in shops and commercial establishments. Here are some of the points covered in the recently released revision –

CLASSIFICATION OF WORKERS

-          Skilled employee: one capable of working efficiently, of exercising considerable independent judgement and of discharging duties responsibly

-          Semi-skilled employee: one who generally conducts work of a well-defined routine nature, wherein the requirement is not so much of judgement or dexterity of skill, but more a proper discharge of duties of his job where decisions are made by others. This involves execution of routine operations with limited scope

-          Unskilled employee: one whose operations involve carrying out of simple duties involving little or no independent judgement or prior experience, with familiarity of the working environment being necessary. Nature of work may, in addition to physical exertion, require familiarity with articles or goods

WAGES PAYABLE

-          Daily wages: minimum rate of daily wages payable is to be computed as minimum rate of monthly wage fixed for the corresponding class of worker divided by twenty six, rounded off to the higher nearest paisa

-          Hourly wages: minimum hourly wages payable to part-timers shall be computed by dividing daily wages applicable to the class of employees by eight, and factoring a rise of 15%, rounded off to the higher nearest paisa

The minimum wages will be inclusive of payment of remuneration in consideration of the weekly day of rest, and will comprise the basic rate and cost of living index.

COST OF LIVING ALLOWANCE

The consumer price index for the working class will be the cost of living index applicable to these employees. The government will review and publish the cost of living index for these employees every six months – in January and July of each year. The cost of living allowance, payable for six months to these employees for the period of six months has been calculated at Rs. 26 per month. The cost of living allowance shall be calculated and published in the last week of July, applicable each month from July to December. A similar cost of living allowance published at the end of January will be applicable between January and June.  

SCHEDULE OF MINIMUM WAGES

Serial No	Class of Employee	Basic minimum rate of wages per month [3]
		Zone I (Rs.)	Zone II (Rs.)	Zone III (Rs.)
1	Skilled	11,632	11,036	10,440
2	Semi-skilled	10,856	10,260	9,664
3	Unskilled	10,021	9,425	8,828

Zone I will include all areas in the radius of Municipal Corporations and Industrial Areas within a radius of 20 kilometres of all Municipal Corporation limits and cantonment areas

Zone II includes all areas within the limits of Municipal Councils

Zone III will comprise other areas in the state not covered in Zone I and Zone II

Highlights of the Union Budget for 2019-20 (Apr-Mar), presented by Finance Minister

DIRECT TAX

* Increasing surcharge on income over 20 million rupees/year

* Faceless tax scrutiny case selection to be on random basis

* Propose 2% TDS on 10 million rupee/yr cash withdrawal from banks

* Propose to take slew of measures to boost digital payments

* Launching automated, faceless assessment of tax

* To make pre-filled tax return forms available

* To make Aadhaar, PAN interchangeable to file tax returns

* Tax proposals aim to stimulate growth, housing

* Direct tax mop up 11.37 trillion rupees FY19 vs 6.38 trillion FY14

* Seeing double-digit growth in direct tax revenue annually

* Corporate tax now 25% for cos with 4 billion rupees/yr revenue

* Corporate tax cut to cover 99.3% of all cos

INDIRECT TAX

* To raise road, infra cess on petrol, diesel by 1 rupee/ltr

* To up special additional excise on diesel by 1 rupee/ltr

* To up special additional excise on petrol by 1 rupee/ltr

* Proposing certain amendments to Customs Act

* Raising customs duty on precious metals to 12.5%

* Raising customs duty on gold

* Customs duty being exempted on some parts of e-vehicles

* 5% customs duty being imposed on imported books

* To implement fully-automated GST refund module

* GST led to lower rates on almost all commodities

* Tax deduction of 150,000 rupees on e-vehicle loan interest

* Extra 150,000-rupee tax deduction on some small home loans

* RBI, banks to absorb merchant discount rate at small shops

* No merchant discount rate on e-transaction at small shops

10 POINTS OF VISION

* Building social infrastructure among 10 points of vision

* Building pollution-free environment among 10 points of vision

* Digital India in every sector among 10 points of vision

* Make in India with stress on MSME in 10 points of vision

* Water management, clean rivers among 10 points of vision

* Export of food grain in 10 points of vision

* Ayushman Bharat, clean India among 10 points of vision

* Space programmes, safety of citizen in 10 points of vision

GROWTH, INFLATION

* Well within capacity to reach $5-trillion economy in few years

* India to become $3-trillion economy in FY20

* India now 6th largest economy vs 11th five years ago

REFORMS

* Need to continue undertaking structural reforms

* Need to continue structural reforms to reach $5-trillion aim

* Need to invest in job creation in MSMEs

* Need to invest heavily in digital India, job creation

* $5-trillion economy target is imminently achievable

* "Gone are the days of policy paralysis"

* Wish to propose many initiatives to kick-start growth

* Reforms needed in power tariffs

* To soon announce policy package for power tariffs

* Model tenancy law to soon be finalised

* Propose several reform measures for rental housing

* PPP to fast develop track, rolling stock, freight svcs

* To have blueprint for water grids, gas grids, airways

* Examining performance of UDAY scheme

* One nation, one grid to ensure power connectivity

* 2 more terminals at Sahibganj, Haldia to be functional soon

* Movement of cargo in river Ganga to rise 4 times in 4 yrs

FINANCIAL SECTOR, MARKETS

* STT to be limited to gap between settlement, strike price

* Propose some leeway in Securities Transactions Tax

* Propose to implement steps to make tax compliance easier

* Bad loan tax norms for most NBFCs at par with banks

* Need for greater parity in tax treatment of NBFCs vs banks

* CBDT to make provisions for pending assessment of startups

* Start-ups not to face scrutiny in terms of share premium

* Taking steps to resolve angel tax issue for startups

* To start scheme for foreign cos in advanced technology sector

* To start scheme to invite foreign cos in sunrise sectors

 To give PSU banks 700 billion rupees capital

* Banks' NPAs reduced by more than 1 trillion rupees last year

* Domestic credit growth risen to 13.8%

* To let all NBFC to participate in trade receivable platform

* Propose to return regulation over housing fin cos to RBI

* Propose more power to RBI over NBFCs in Finance Bill

* One-time, six-month guarantee to PSU banks to buy some NBFC loans

* Fundamentally sound NBFCs should get funding from banks, MFs

* To undertake steps to improve governance in PSU banks

* Provision coverage ratio of banks highest in 7 years

* Six PSU banks enabled to come out of prompt corrective action

* To start raising part of borrowing from external market in FX

* To boost retail participation in CPSE ETFs

* India's sovereign external debt to GDP ratio less than 5%

* To offer ETF participation via ELSS-like system

* Setting divestment target of 1.05 trillion rupees for FY20

* Govt to reinitiate process of Air India divestment

* Onshore insurers' net owned funds need cut to 10 billion rupees

* Strategic divestment of PSUs to remain a priority

* Mulling below 51% stake in PSUs on case-to-case basis

* To raise cap on foreign shareholding in some PSUs

* Steps to separate NPS Trust from PFRDA

* Financial gains from cleaning banking sector now visible

* FDI inflows remain robust despite global headwinds

* Important to increase retail invest in T-bills

* Propose to create platform for listing social enterprises

* To work with regulators for AA bonds as collateral for repo

* Asked SEBI to mull hiking minimum public shareholding to 35%

* Propose to rationalise existing KYC norms for FPIs

* India needs 20-trln-rupee estimated investment every year

* To put in place action plan to deepen long-term bond mkt

* Action plan to deepen market for long-term bonds

* Invest driven growth requires access to low-cost capital

* To create payment platform for MSMEs

* Large infrastructure can be built on land owned by CPSEs

* To allow FPIs to subscribe to listed debt papers of REITs

* Propose to merge NRI, FPI investment scheme routes

* To mull hiking FDI limit in media, insurance, animation cos

* Contemplating an annual global investors meet in India

* Propose 100% FDI in insurance intermediaries

* To examine suggestions to further open up FDI in aviation

* FDI flows rose 6% to $64.37 billion in FY19

* Propose to make India a more attractive FDI destination

* To take steps for RBI, SEBI depositories' inter-operability

* To allow FPIs to subscribe to listed debt papers of REITs

* Propose to merge NRI, FPI investment scheme routes

* To mull hiking FDI limit in media, insurance, animation cos

* Contemplating an annual global investors meet in India

* Propose 100% FDI in insurance intermediaries

* To examine suggestions to further open up FDI in aviation

* FDI flows rose 6% to $64.37 billion in FY19

* Propose to make India a more attractive FDI destination

* To take steps for RBI, SEBI depositories' inter-operability

* To allow FPI invest in listed debt securities of InvITs

* Will take steps to meet 25% public holding in listed PSUs

* Need to encourage continued growth of startups

INFRASTRUCTURE, INDUSTRY

* To invest 100 trIlion rupees in infrastructure over next 5 years

* To set up panel on long-term funding for infrastructure

 Need to invest heavily in infrastructure

* Rail infra may need investment of 50 trillion rupees 2018-2030

* 2nd stage of Bharatmala to help develop state roads

* To incentivise advanced vehicle battery manufacturing

* Need to develop inland waterways for cargo movement

* To comprehensively restructure national highway programme

* To comprehensively restructure national highway programme

* 210 km of new metro lines operationalised in 2019

* Launching national common mobility card

* To leverage engineering skill for project maintenance work

* Public infra, affordable housing to be taken up in FY20

* To aid cluster-based development of traditional industries

* To use more PPP mode for metro rail network

* Railways to be encouraged to use SPVs for suburban projects

* To use USOF, PPP mode for speeding up BharatNet

* To deal with tax issues of start-ups later in speech

* To start TV programme exclusively for startups

FARM SECTOR

* Every rural family to have gas, power connectivity by 2022

* All rural families to have electricity connection by 2022

* Govt keeps Antyodaya at core of all its policies

* Villages, poor, farmers at centre of every govt plan

* Gaon, garib, kisan at centre of every govt plan

* To invest widely in agriculture infrastructure

* Bamboo, khadi, honey to be focus for cluster development

* To invest 802.5 billion rupees to upgrade rural roads in 5 years

* To upgrade 125,000 km of rural roads in 5 years

* 30,000 km roads under PM Sadak Yojana built with green technology

* All-weather roads provided to 97% of habitation

* To have robust framework for fisheries mgmt network

* 19.5 million homes to be given till 2022 in PM rural house plan

* 15 million homes completed under PM rural house plan

* APMCs shouldn't hamper farmers from getting fair price

* Zero-budget farming to be promoted

* Hope to form 10,000 farmer producer organisations

* Aiming oilseed self sufficiency, to help cut import bill

* Ease of doing business, living should apply to farmers too

* To create infrastructure for cattle feed manufacturing

* Will support private companies to add value for farm producers

* Zero-budget farming can help double farmers' income

SOCIAL SECTOR, EDUCATION

* See rapid urbanisation as an opportunity, not challenge

* Constructed 96 million toilets since Oct 2, 2014

* To expand Swachh Bharat plan to undertake solid waste mgmt

* India to be open-defecation-free by Oct 2

* Over 95% cities have become open-defecation free

 Identified 1,592 blocks for Jal Shakti Abhiyan

* To use CAMPA funds for Jal Shakti plan

* Aim water connection to every household by 2024

* To set up national research foundation to assimilate all grants

* To bring new national education policy

* Will bring in new national educational policy

* 3 million workers joined govt pension plan so far

* Banks to provide assistance under Stand-Up India scheme

* Stand-Up India scheme to continue till 2025

* Expect less labour disputes as laws get streamlined

* Propose to develop 17 iconic tourism sites

* Propose digital repository for tribal heritage

* Propose to revamp India Development Assistance Scheme

* Opened 5 new embassies in Africa FY19, to open 4 more

* Propose to launch mission to integrate traditional artisans

DIRECT TAX

* Increasing surcharge on income over 20 mln rupees/year

* Faceless tax scrutiny case selection to be on random basis

* Propose 2% TDS on 10 mln rupee/yr cash withdrawal from banks

* Propose to take slew of measures to boost digital payments

* Launching automated, faceless assessment of tax

* To make pre-filled tax return forms available

* To make Aadhaar, PAN interchangeable to file tax returns

* Tax proposals aim to stimulate growth, housing

* Direct tax mop up 11.37 trln rupees FY19 vs 6.38 trln FY14

* Seeing double-digit growth in direct tax revenue annually

* Corporate tax now 25% for cos with 4 bln rupees/yr revenue

* Corporate tax cut to cover 99.3% of all cos

INDIRECT TAX

* To raise road, infra cess on petrol, diesel by 1 rupee/ltr

* To up special additional excise on diesel by 1 rupee/ltr

* To up special additional excise on petrol by 1 rupee/ltr

* Proposing certain amendments to Customs Act

* Raising customs duty on precious metals to 12.5%

* Raising customs duty on gold

* Customs duty being exempted on some parts of e-vehicles

* 5% customs duty being imposed on imported books

* To implement fully-automated GST refund module

* GST led to lower rates on almost all commodities

* Tax deduction of 150,000 rupees on e-vehicle loan interest

* Extra 150,000-rupee tax deduction on some small home loans

* RBI, banks to absorb merchant discount rate at small shops

* No merchant discount rate on e-transaction at small shops

10 POINTS OF VISION

* Building social infrastructure among 10 points of vision

* Building pollution-free environment among 10 points of vision

* Digital India in every sector among 10 points of vision

* Make in India with stress on MSME in 10 points of vision

* Water management, clean rivers among 10 points of vision

* Export of food grain in 10 points of vision

* Ayushman Bharat, clean India among 10 points of vision

* Space programmes, safety of citizen in 10 points of vision

GROWTH, INFLATION

* Well within capacity to reach $5-trln economy in few years

* India to become $3-trln economy in FY20

* India now 6th largest economy vs 11th five years ago

REFORMS

* Need to continue undertaking structural reforms

* Need to continue structural reforms to reach $5-trln aim

* Need to invest in job creation in MSMEs

* Need to invest heavily in digital India, job creation

* $5-trln economy target is imminently achievable

* "Gone are the days of policy paralysis"

* Wish to propose many initiatives to kick-start growth

* Reforms needed in power tariffs

* To soon announce policy package for power tariffs

* Model tenancy law to soon be finalised

* Propose several reform measures for rental housing

* PPP to fast develop track, rolling stock, freight svcs

* To have blueprint for water grids, gas grids, airways

* Examining performance of UDAY scheme

* One nation, one grid to ensure power connectivity

* 2 more terminals at Sahibganj, Haldia to be functional soon

* Movement of cargo in river Ganga to rise 4 times in 4 yrs

FINANCIAL SECTOR, MARKETS

* STT to be limited to gap between settlement, strike price

* Propose some leeway in Securities Transactions Tax

* Propose to implement steps to make tax compliance easier

* Bad loan tax norms for most NBFCs at par with banks

* Need for greater parity in tax treatment of NBFCs vs banks

* CBDT to make provisions for pending assessment of startups

* Start-ups not to face scrutiny in terms of share premium

* Taking steps to resolve angel tax issue for startups

* To start scheme for foreign cos in advanced technology sector

* To start scheme to invite foreign cos in sunrise sectors

 To give PSU banks 700 bln rupees capital

* Banks' NPAs reduced by more than 1 trln rupees last year

* Domestic credit growth risen to 13.8%

* To let all NBFC to participate in trade receivable platform

* Propose to return regulation over housing fin cos to RBI

* Propose more power to RBI over NBFCs in Finance Bill

* One-time, six-month guarantee to PSU banks to buy some NBFC loans

* Fundamentally sound NBFCs should get funding from banks, MFs

* To undertake steps to improve governance in PSU banks

* Provision coverage ratio of banks highest in 7 years

* Six PSU banks enabled to come out of prompt corrective action

* To start raising part of borrowing from external market in FX

* To boost retail participation in CPSE ETFs

* India's sovereign external debt to GDP ratio less than 5%

* To offer ETF participation via ELSS-like system

* Setting divestment target of 1.05 trln rupees for FY20

* Govt to reinitiate process of Air India divestment

* Onshore insurers' net owned funds need cut to 10 bln rupees

* Strategic divestment of PSUs to remain a priority

* Mulling below 51% stake in PSUs on case-to-case basis

* To raise cap on foreign shareholding in some PSUs

* Steps to separate NPS Trust from PFRDA

* Financial gains from cleaning banking sector now visible

* FDI inflows remain robust despite global headwinds

* Important to increase retail invest in T-bills

* Propose to create platform for listing social enterprises

* To work with regulators for AA bonds as collateral for repo

* Asked SEBI to mull hiking minimum public shareholding to 35%

* Propose to rationalise existing KYC norms for FPIs

* India needs 20-trln-rupee estimated investment every year

* To put in place action plan to deepen long-term bond mkt

* Action plan to deepen market for long-term bonds

* Invest driven growth requires access to low-cost capital

* To create payment platform for MSMEs

* Large infrastructure can be built on land owned by CPSEs

* To allow FPIs to subscribe to listed debt papers of REITs

* Propose to merge NRI, FPI investment scheme routes

* To mull hiking FDI limit in media, insurance, animation cos

* Contemplating an annual global investors meet in India

* Propose 100% FDI in insurance intermediaries

* To examine suggestions to further open up FDI in aviation

* FDI flows rose 6% to $64.37 bln in FY19

* Propose to make India a more attractive FDI destination

* To take steps for RBI, SEBI depositories' inter-operability

* To allow FPIs to subscribe to listed debt papers of REITs

* Propose to merge NRI, FPI investment scheme routes

* To mull hiking FDI limit in media, insurance, animation cos

* Contemplating an annual global investors meet in India

* Propose 100% FDI in insurance intermediaries

* To examine suggestions to further open up FDI in aviation

* FDI flows rose 6% to $64.37 bln in FY19

* Propose to make India a more attractive FDI destination

* To take steps for RBI, SEBI depositories' inter-operability

* To allow FPI invest in listed debt securities of InvITs

* Will take steps to meet 25% public holding in listed PSUs

* Need to encourage continued growth of startups

INFRASTRUCTURE, INDUSTRY

* To invest 100 trln rupees in infrastructure over next 5 years

* To set up panel on long-term funding for infrastructure

 Need to invest heavily in infrastructure

* Rail infra may need investment of 50 trln rupees 2018-2030

* 2nd stage of Bharatmala to help develop state roads

* To incentivise advanced vehicle battery manufacturing

* Need to develop inland waterways for cargo movement

* To comprehensively restructure national highway programme

* To comprehensively restructure national highway programme

* 210 km of new metro lines operationalised in 2019

* Launching national common mobility card

* To leverage engineering skill for project maintenance work

* Public infra, affordable housing to be taken up in FY20

* To aid cluster-based development of traditional industries

* To use more PPP mode for metro rail network

* Railways to be encouraged to use SPVs for suburban projects

* To use USOF, PPP mode for speeding up BharatNet

* To deal with tax issues of start-ups later in speech

* To start TV programme exclusively for startups

FARM SECTOR

* Every rural family to have gas, power connectivity by 2022

* All rural families to have electricity connection by 2022

* Govt keeps Antyodaya at core of all its policies

* Villages, poor, farmers at centre of every govt plan

* Gaon, garib, kisan at centre of every govt plan

* To invest widely in agriculture infrastructure

* Bamboo, khadi, honey to be focus for cluster development

* To invest 802.5 bln rupees to upgrade rural roads in 5 years

* To upgrade 125,000 km of rural roads in 5 years

* 30,000 km roads under PM Sadak Yojana built with green technology

* All-weather roads provided to 97% of habitation

* To have robust framework for fisheries mgmt network

* 19.5 mln homes to be given till 2022 in PM rural house plan

* 15 mln homes completed under PM rural house plan

* APMCs shouldn't hamper farmers from getting fair price

* Zero-budget farming to be promoted

* Hope to form 10,000 farmer producer organisations

* Aiming oilseed self sufficiency, to help cut import bill

* Ease of doing business, living should apply to farmers too

* To create infrastructure for cattle feed manufacturing

* Will support private companies to add value for farm producers

* Zero-budget farming can help double farmers' income

SOCIAL SECTOR, EDUCATION

* See rapid urbanisation as an opportunity, not challenge

* Constructed 96 mln toilets since Oct 2, 2014

* To expand Swachh Bharat plan to undertake solid waste mgmt

* India to be open-defecation-free by Oct 2

* Over 95% cities have become open-defecation free

 Identified 1,592 blocks for Jal Shakti Abhiyan

* To use CAMPA funds for Jal Shakti plan

* Aim water connection to every household by 2024

* To set up national research foundation to assimilate all grants

* To bring new national education policy

* Will bring in new national educational policy

* 3 mln workers joined govt pension plan so far

* Banks to provide assistance under Stand-Up India scheme

* Stand-Up India scheme to continue till 2025

* Expect less labour disputes as laws get streamlined

* Propose to develop 17 iconic tourism sites

* Propose digital repository for tribal heritage

* Propose to revamp India Development Assistance Scheme

* Opened 5 new embassies in Africa FY19, to open 4 more

* Propose to launch mission to integrate traditional artisans

MISCELLANEOUS

* Election 2019 mandate was full of hope for new India

* Voters stamped their approval on a performing government

* People of India voted for national security, economic growth

* Have set the ball rolling for new India

* Govt provided fiscal discipline during 2014-2019

* Average food security amount almost doubled during 2014-19

* Our last-mile delivery stood out, reached everywhere

* Will further simplify procedure, reduce red tape

* Mega programmes initiated in 1st term will continue

* We don't look down upon legitimate profit-earning

* To take step for virtuous cycle of domestic, foreign investment

* Time right for India to enter aircraft financing, leasing

* Launched co to tap ISRO's capabilities commercially