Trade unions have called for a nation-wide strike on September 2.
The report said the Gujarat government amended the Industrial Disputes Act in 2004 to allow for greater flexibility in the labour market for special economic zones.
After several years of downgrades to the country's medium-term growth outlook, the estimates are likely to be upgraded now, Credit Suisse said in a report. The country's economy is showing signs of bottoming out, it said. According to the report, the consensus forecasts of GDP growth for FY2022 over FY2020 stopped falling after October 2020 (currently at (-) 1 per cent). Analysts at Credit Suisse expect these estimates to be revised upwards.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
HR Guru Mayank Rautela offers practical advice.
HR Guru Mayank Rautela offers practical advice.
iPhone SE 2020 is one of the popular phones like Apple 11, which is the biggest seller in the domestic market.
'During the pandemic, thousands of IT employees have lost their jobs.' 'Many of those who still have their jobs fear that they will lost it any moment.'
The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
11 categories of industries will be exempt from the Madhya Pradesh Industrial Relations (MPIR) Act of 1961. This includes textile, leather, cement, iron and steel, electrical goods, sugar, electricity, public motor transport, engineering including manufacture of motor vehicles, among others.
The ten central trade unions have demanded a cash transfer of Rs 7,500 a month to all families that do not pay income tax, free ration of 10 kg per head in a month to all the needy, expansion of the Mahatma Gandhi National Rural Employment scheme to cover more days of job, withdrawal of labour codes and farm bills, halt on privatisation, universal pension coverage and withdrawal of "draconian" circular on forced premature retirement of government officials.
The ministry of labour & employment has now been mandated to seek the 12-digit unique identification number Aadhaar from people like employees and unorganised sector workers seeking registration, benefits, availing services or receiving any payment under various schemes under the Social Security Code 2020. Aadhaar would not be made mandatory for delivery of services under various social security schemes under the purview of the ministry because Social Security Code 2020 has not been fully implemented so far. The rules under the Code are finalised by the ministry but those rules are yet to be notified.
Finance Minister Himanta Biswa Sarma added to the mystery by declaring only that the next CM would be from the BJP, without naming Sarbananda Sonowal, the CM of the outgoing government.
NITI Aayog wants the prime minister's flagship initiative should focus on labour-intensive sectors and policies that impede their growth to get special attention.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
HR Guru Mayank Rautela offers practical advice.
If India wants to become a globally competitive manufacturing hub, it will have to rethink the notion that the traditional SMEs will form the manufacturing backbone, argues Prosenjit Datta.
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.
HR Guru Mayank Rautela offers practical advice.
This will be the fifth meeting of the prime minister with the chief ministers since the outbreak of the novel coronavirus.
'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.'
Making a case for liberalising labour laws, the National Commission for Enterprises in the Unorganised Sector suggested on Thursday adoption of conditional hire and fire policy, while safeguarding the interest of workers.
SEZs account for just about a third of India's merchandise exports (and roughly the same proportion of services exports). Yet, the notion of creating global manufacturing centres of the kind that propelled China to superpowerdom retains a durable appeal within the Indian policy-making establishment, notes Kanika Datta.
HR Guru Mayank Rautela offers practical advice.
'The promises of netas and babus and new laws, however well-meaning, mean little.' 'What matters is implementation on the ground.' 'Every law is finally implemented by a vast army of offici
A course on 'land acquisition, rehabilitation and environmental clearance of projects' is also being offered by IIT-Kharagpur.
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
Poor quality of education is one of the most important reasons for high unemployment in India, says Kavita Nigam.
The implementation of four labour codes in one go from April 1 next year will usher in a new wave of reforms in industrial relations and also help in attracting more investments but employment generation will remain a key challenge in 2021. This year has also been a challenging year for the work force as well as for employers due to the outbreak of the COVID-19 pandemic. The government imposed a nationwide lockdown from March 25, which had an adverse impact on economic activities and resulted in exodus of migrant workers from large cities to their homes in the hinterland. Many migrant labourers lost their jobs and it took months for them to return back to their work places from their native places.
HR Guru Mayank Rautela offers practical advice.
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
'Today when people are fighting to get their salary, you are telling them you will privatise airports!'
'Last Saturday, the largest number of people travelled by air on a single day!' 'There is a kind of hunger among consumers to spend as they have been confined to their homes and not spending for almost 2 years.'
BJP-ruled states push through amendments to laws, aim to get larger share of FDI pie
HR Guru Mayank Rautela offers practical advice.
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.
Around 81 per cent of the workers constitute the unorganised sector - devoid of any social security cover and outside the purview of a complex set of labour laws.
HR Guru Mayank Rautela offers practical advice.
HR Guru Mayank Rautela offers practical advice.
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