Following the lacklustre growth numbers in the second quarter (Q2FY25), economists believe the upcoming Union Budget for 2025-26 should focus on reforms that will stimulate consumption, manufacturing and spur employment. India's growth unexpectedly slowed to 5.4 per cent in the second quarter, due to low capital formation, weak consumption, besides adverse weather impact.
The conclave drew valuable insights from former athletes and Olympians, including celebrated ones such as Anju Bobby George, Mary Kom, and Tarundeep Rai, all of whom shared their personal experiences and perspectives on what it takes to excel at the highest levels of sports.
Retirement fund body EPFO recorded a net addition of 19.94 lakh members in July this year, the labour ministry said on Monday. Union Labour Minister Mansukh Mandaviya said at a press conference that 10.52 lakh new or first-time workers subscribed to social security schemes run by Employees' Provident Fund Organisation (EPFO). The minister said almost 20 lakh net new members addition (19.94 lakh) was recorded in July this year.
The Ministry of Labour & Employment is investigating alleged "unsafe and exploitative work environment" days after the tragic demise of Anna Sebastian Perayil who worked with S R Batliboi, a member firm of EY Global. Perayil was a 26-year-old chartered accountant (CA) who died allegedly due to extreme work pressure at the firm. "Deeply saddened by the tragic loss of Anna Sebastian Perayil.
Recent documents by NITI Aayog and periodic labour force surveys on employment show that the importance of agriculture is rising in the Indian economy.
There is no doubt that archaic labour laws governing employment of contract labour have fanned tensions at the workplace and need to be amended.
Under fixed-term employment, workers are entitled to all statutory benefits available to a permanent worker in the same factory. However, employers may not give notice to a fixed-term worker on non-renewal or expiry of his or her contract.
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.
Industrial disputes dropped 89.3 per cent to 34 in 2022 compared to 318 a decade ago, shows central and state data.
According to new proposal for amendements in the labour law, a worker will be allowed to object to being laid off within three years, against no clear period specified in the law now.
Infosys CEO Salil Parekh has indicated that offers given to freshers will be honoured by the company and followed with joining, although there has been some change in dates. The comments of Infosys top honcho assumes significance amid reports that the company has delayed onboarding of 2,000 fresh engineering graduates from 2022-batch.
Instead of mechanically consolidating all labour laws into one, provisions of all labour laws should be relooked in terms of their substance. The irrelevant and archaic provisions have to be fixed, says Aparajita Gupta.
World Athletics President Sebastian Coe met Sports Minister Mansukh Mandaviya and Primer Minister Narendra Modi in New Delhi on Monday and discussed India's intent to host the 2036 Olympics and development of athletics in the country.
Labour sector needs bigger reform than the PM revealed.
Justices Arif S Doctor and Somasekhar Sundaresan held there was nothing in the MCC that would interfere with the Board's ongoing activities.
There have been several occasions when workers have raised an industrial dispute with employers demanding compensation for being retrenched due to continued illness
Employment in nine selected sectors, including construction, manufacturing and IT/BPO, was at 3.08 crore in the April-June quarter of 2021-22, reflecting a growth of 29 per cent compared to 2.37 crore reported in the Economic Census of 2013-14, according to a survey. Labour and Employment Minister Bhupender Yadav on Monday released the report of Quarterly Employment Survey (QES) part (April to June 2021), of the All-India Quarterly Establishment-based Employment Survey (AQEES) prepared by the Labour Bureau. Announcing the results, Yadav said the estimated total employment in the nine selected sectors from the first round of QES is 3 crore and 8 lakh approximately against a total of 2 crore and 37 lakhs in these sectors taken collectively, as reported in the sixth Economic Census (EC 2013-14) reflecting a growth rate of 29 per cent.
As the Centre faces multiple hurdles, BJP-governed states such as Rajasthan, Madhya Pradesh and Gujarat have swiftly moved in to usher in radical reforms as they aim to take a larger share of the FDI pie.
Calling the Budget 2018 'anti-labour', the Bharatiya Mazdoor Sangh will observe February 20 as a 'black day'.
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
On the eve of the Modi government's two years in office, the RSS-linked Bharatiya Mazdoor Sabha leadership met Finance Minister Arun Jaitley. After the meeting, the BMS claimed the FM told its delegation 'the government has realised that labour reforms are not essential for industrial growth in the country.'
Working hours cannot go beyond 48. Those who give a four-day week will have to provide three consecutive holidays after that.
'Mr Minister, it has been more than five years for your government. There is no job creation. Whatever jobs were there, they have been snatched due to the economic slowdown brought by the government. You want to escape by insulting North Indians'
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
ILO acts upon a plea by 10 central trade unions objecting to the ordinances proposed to temporarily scrap labour laws in Uttar Pradesh and Gujarat, along with executive orders issued by at least 10 states to increase the daily working limit to 12 hours from eight hours, along with other labour law changes.
The Centre is confident of meeting employment creation target of ten million jobs during the current financial year, Union Labour Secretary P D Shenoy said.
Protests by central labour unions and widespread criticism from Opposition parties because of job losses on account of demonetisation and the GST have put the contentious labour reform proposals in the slow lane.
Cabinet may take up amendments to 3 laws on Wednesday; but no relaxed retrenchment norms yet.
Employers' refusal to recognise TUs has caused industrial tiffs.
The Centre has, however, retained its proposal to curb flash strikes as workers in all factories will be required to give employers a strike notice of at least two weeks after the Bill becomes a law.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
The Union finance ministry has rejected a proposal sent by the labour ministry to double the monthly minimum pension amount to Rs 2,000 under the Employee Pension Scheme (EPS). The Central Board of Trustees (CBT), the apex decision-making body of the Employee Provident Fund Organisation (EPFO), was apprised of the proposal's rejection during a meeting on Saturday. "According to the recommendations made by a highly-empowered monitoring committee constituted by the government, a proposal to increase the minimum pension under EPS from Rs 1,000 to Rs 2,000 per month, by providing additional budgetary support, was sent to the ministry of finance.
President Pranab Mukherjee on Friday gave his assent to Rajasthan's amendment to three laws -- the Factories Act, Industrial Dispute Act and Contract Labour Act.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
These include Apprenticeship Act 1961 and Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act 1988
'We need to take steps towards ease of doing business.'
Here is the complete list of ministers in Modi 3.0 and their portfolios:
'The government should come back as a job creator as it did in the 1960s and the 1970s.'
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