HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  


Search:



The Web

Rediff









Business
Portfolio Tracker
Business News
Specials
Columns
Market Report
Mutual Funds
Interviews
Tutorials
Message Board
Stock Talk
Press Releases



Home > Business > Reuters > Report

All India workers' strike on May 21

May 19, 2003 18:53 IST

Nearly 60 million workers across India, roughly equivalent to the entire population of France, will go on strike on Wednesday to protest against economic reforms, labour leaders said on Monday.

Their demands include a halt to privatisation and freer imports. Unions are also opposing a proposed amendment to labour laws, which would make it easier for employers to fire workers and shut down businesses.

The one-day work stoppage would affect government offices and businesses ranging from banks, insurance firms, oil refiners and coal mining. Unionised workers in small industries are also expected to joint the protest.

"This is only a prelude," said Tapan Sen, national secretary of the Centre of Indian Trade Unions in New Delhi. "We are planning further action as there is a need to build up opposition against the government's policies."

Reforms to open up the economy which began in the early 1990s have often run into opposition from unions fearing job losses and politicians seeking to retain control over state-run firms.

The government's reforms programme is already hampered by political considerations in the run-up to general elections due next year.

Some analysts say aggressive reforms could help the Indian economy, Asia's third-largest and home to one-sixth of the world's population, to expand by nearly 10 per cent a year from an average five-to-six per cent through most of the past decade.

"Around 2 crore (20 million) people are employed in the organised sector and 5-6 crores (50-60 million) in the unorganised sector," Sen said. "Around 75 per cent of this work force will join the strike."

CITU itself has a membership of around 35 lakh (3.5 million). The rival Indian National Trade Unions Congress, which has about 80 lakh (eight million) members, will not take part in the strike.

"We believe these issues should be settled in parliament and not by a strike by workers," said Chandidas Sinha, its secretary.

Second banking strike

Wednesday's strike would be the second in a month for the banking sector after junior and middle management officials demanded higher wages on May 2.

"We expect around 95 per cent of banking staff will not work on Wednesday," said Rajen Nagar, treasurer of the All India Bank Employees' Association.

The association is estimated to have around 500,000 members out of an industry strength of around 800,000.

One senior banker said the strike's impact was likely to be mixed. "Money market and government securities deals may not be hit much as traders can strike deals for different dates. But there will be impact in the sense that clearing of cheques will be delayed by one day," he said.

Bankers estimate that an average of around Rs 80 billion ($1.7 billion) of cheques pass through the clearing house in the financial hub of Mumbai every day.

Among the big banks that will be affected by the strike are Bank of Baroda, Canara Bank, Punjab National Bank. Refiners Bharat Petroleum Corporation and Hindustan Petroleum Corporation, both of which will be privatised, are also likely to be hampered by the protests.


© Copyright 2003 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.





Article Tools

Email this Article

Printer-Friendly Format

Letter to the Editor



Related Stories


Banks to strike work on May 21

Economy doing better, but....



People Who Read This Also Read


Former DMK minister killed

Economy doing better, but....

UP minister told to vacate house







HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  
© 2003 rediff.com India Limited. All Rights Reserved.