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
- Dr Naperla Praveen: A life of service and inspirationDr Praveen grew up imbibing values of empathy and dedication.
- Government lists 15 Bills for winter Parliament sessionThe Punjab Courts (Amendment) Bill is another significant draft legislation scheduled for introduction.
- Govt implements work-from-home plan to tackle Delhi pollutionAs Delhi faces "severe" air pollution levels, 50% of government employees will work remotely under Stage IV GRAP measures.
- Dr Naperla Praveen: A life of service and inspiration
What’s new at WeRIndia.com
News from 700+ sources
-
Centre Allocates 15th Finance Commission Grant to Karnatakas Rural Local Bodies
-
Old, Unrelated Images Shared as Vote Jihad in 2024 Maharashtra Elections
-
Jharkhand Election Results: Who Will Form the Next Government?
-
SC orders monitoring Delhis entry points to check truck ban
-
82 artistes receive Ustad Bismillah Khan Yuva Puraskar for 2022, 2023
-
Government funding 28 innovative ideas to address sharp volatility in retail prices of tomato
-
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