The senior Bharatiya Janata Party leader also said that the troubles of the hapless workers grew manifold, in the midst of the COVID-19 crisis, as their employers did not implement the provisions of the existing Inter State Migrant Labour Act, 1979.
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
Right to protest and express dissent occupies a fundamental stature in a democratic polity and therefore the sole act of protesting should not be employed as a weapon to justify the incarceration of those exercising it, said the Delhi high court on Friday while granting bail to five accused including a woman in a north-east Delhi riots case.
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
Wang Yang and Xi Jinping's visits signal the beginning of a major Chinese push to bring about a transformation of Tibet, observes Jayadeva Ranade, the distinguished China expert and retired RA&W officer.
Apart from Bihar, Chhattisgarh and Jharkhand, where none of the estimated 6.7 million construction workers got cash transfer benefits, the coverage of the construction workers was the lowest in Delhi, where only about 5 per cent of the estimated workers received cash under the PMGKY, followed by Kerala and Uttar Pradesh (22 per cent), among major states. In India, construction workers belong to the unorganised sector but account for the highest share of non-farm jobs after manufacturing.
As per the recommendations of the 2nd National Commission on Labour, the ministry is codifying existing 44 central labour laws into four codes by simplifying, amalgamating and rationalising the relevant provisions of the legislations.
Some members raised questions like that even government establishments were employing only contract labour.
Thomas Isaac has been in and out of the national news in his role as Kerala's finance minister since 2018 for various path-breaking tax initiatives. But it is 2020 that he has become more prominent, principally in the GST council.
The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 lakh crore.
'The social security system in India provides minimal support to the elderly poor,' says Geetanjali Krishna.
The ex-PM urged the people to elect a government that upholds the Constitution of India and the principles of democracy and brings about inclusive growth for all.
Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
During 2019-20, the number of net new subscribers rose to 78.58 lakh as compared to 61.12 lakh in the preceding fiscal.
In a two-pronged strategy to secure migrant workers, the Uttar Pradesh government has decided to set up a migration commission for the employment of such labourers in the state and made it clear that any state that wants them from UP has to seek its permission.
Measures to promote ease of doing business, cut in tax rates for smaller enterprises to 25 per cent, and reduction in interest rates are creating the right atmosphere for new businesses to flourish, particularly SMEs.
Labour ministry guidelines say workers returning to cities must get housing, health insurance, facemasks. The Centre has also asked states to issue guidelines to employers to take care of the needs of migrant workers.
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
The EPFO is now developing a software that will help show retirement savings in cash and ETFs components separately. At present the account only shows the savings as gross cash component.
Jack Ma, founder of China's e-commerce giant Alibaba suffered a major setback on Tuesday as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of $39.7 billion of the group's subsidiary - the Ant Group, 48 hours before the highly-anticipated trading was due to start. The Shanghai Stock Exchange surprised market investors with an abrupt announcement late on Tuesday that it will suspend Ant Group's IPO, as regulators and the public debate the balance between financial innovation and risk control, state run Global Times reported. According to media reports, the Hong Kong exchange followed suit several minutes later.
It took a lockdown for us in India to even recognise that the plight of migrants needs to be addressed. They were faceless and unrecognised. They were unappreciated and even hounded. They were poorly paid and exploited, notes Ramesh Menon.
During December 2018, maximum number of 217,000 jobs were created in the 18-21 years age group followed by 203,000 in the 22-25 years age bracket.
As of now, foreign employees applying for withdrawal of provident funds are required to open bank accounts in India.
'On December 5, the government called unions for pre-Budget consultations.' '12 trade unions were called and the time allotted was one hour which means 5 minutes for each union.' 'We were asked to present our views in about four minutes.' 'That itself is a reflection of how serious the government is about workers' demands.'
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
India has declined assistance offered by the United Nations of its integrated supply chain for COVID19-related material, saying the country has a "robust system" to deal with the required logistics, a spokesperson for UN Secretary General Antonio Guterres said.
At the 47th ILC, scheduled for February 26 and 27 in Delhi, trade unions and employers were to discuss key issues related to employment and social security coverage to workers
India has expressed concern over the hike in visa fee by the US, saying it is "discriminatory" and largely affects Indian IT professionals.
With his eye on next year's Party Congress, Xi Jinping is using the CCP's centenary celebrations to publicise the benefits for China from its leadership, and boost his image and contribution to China's rise, observes Jayadeva Ranade, the distinguished China expert and retired RA&W officer.
The addition in January was 131 per cent higher as compared with 3.87 lakh EPFO subscribers added in the year-ago month.
At present, organised sector workers covered under social security schemes run by EPFO are exempted from contribution towards schemes.
Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
Private firms will have to maintain a minimum net addition to their workforce each month from October this year to June 2021 to get the Employees' Provident Fund subsidy for the new recruits.
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
This is how you should plan for your golden age in the absence of any social security
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
'I realised that if we don't get relief from the government, I'll be faced with the prospect of either starving in Delhi, or starving in my village.'
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
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