Jaitley wants US to change its unfair social security regime
Arun Jaitley, the finance minister has pushed the US administration to start a process which will help contributions from Indians to the country’s exchequer by way of social security to be returned and not retained in an unfair manner.
Jaitley has stated that this is like an aid program which is meant to help Indian workers run for the US government. Jaitley further added during his speech at the Centre for Strategic and International Studies that the demographic transition of India is: opportunities for partnership.
Based on research done by Jacob Kirkegaard at the Peterson Institute, Indians contribute around $3 billion every year to the US government. This is done by the way of social security contributions. Jaitley has stated that this money is never received back by the Indians.
Jaitley accordingly wanted the US to change what is formally called the totalisation regime. He stated that he is confident that the US will soon take up the matter. He called the present arrangement a “very unjust situation”.
As per Indian law, Indian workers who are posted to foreign countries by their Indian employers for short periods of time continue to make social security contribution in India.
Image Credit: World Economic Forum from Cologny, Switzerland / CC BY-SA 2.0, via Wikimedia Commons
Source: Arun Jaitley
You may also like
Image Reference: https://commons.wikimedia.org/wiki/File:Arun_Jaitley_at_the_India_Economic_Summit_2010_cropped.jpg
Recent Posts
- Bank of Baroda releases notification for 41 postsCandidates are advised to read the detailed notification before applying to ensure they fulfil all the criteria.
- Bullet Train on fast track: Mumbai-Ahmedabad project nears realityThe total estimated cost of the MAHSR project stands at ₹1,08,000 crore.
- Ancient Panchmukhi Shivling discovered in BadaunA centuries-old five-faced Shivling was unearthed during the excavation of a lotus pond in Sarai Piparia village, located in Dataganj tehsil of Uttar Pradesh’s Badaun district. Estimated to be around 300 years old, the rare relic has stirred spiritual excitement among locals and devotees.
- Bank of Baroda releases notification for 41 posts
What’s new at WeRIndia.com
News from 700+ sources
-
Pro-Palestinian Lebanese militant released after 40 years in French jail
-
MRF witnesses the rise of two young Kayaking stars
-
Telangana Sets Up Gigh-Level Panel To Fix Fee Hike Parameters
-
DC Edit | Trade Deal A Win-win For Both India, Britain
-
Telangana Chief Justice Aparesh Kumar Singh Lauds Advocates, Calls for Collaborative Justice Delivery
-
Green Card Freeze Alarms H1B Holders
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply