'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.
HR Guru Mayank Rautela offers practical advice.
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.
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.
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.
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.
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.
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.
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.
'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.'
'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
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.
The biggest worry is not the shrinking of the labour market, but the collapse of good jobs.
HR Guru Mayank Rautela offers practical advice.
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.
'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.'
HR Guru Mayank Rautela offers practical advice.
Poor quality of education is one of the most important reasons for high unemployment in India, says Kavita Nigam.
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.
'Today when people are fighting to get their salary, you are telling them you will privatise airports!'
HR Guru Mayank Rautela offers practical advice.
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.
A course on 'land acquisition, rehabilitation and environmental clearance of projects' is also being offered by IIT-Kharagpur.
While some trade union leaders have welcomed the move, industry has opposed it, fearing an increase in its wage bill
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.
'There is a vision in the Budget, and the vision is to take India from a largely agrarian, rural economy into a fast-track digitalised economy.'
The Centre's retreat from the farm laws is likely to have a significant bearing on the fate of laws that the Centre has made, for instance, in labour and electricity, predicts A K Bhattacharya.
HR Guru Mayank Rautela offers practical advice.
BJP-ruled states push through amendments to laws, aim to get larger share of FDI pie
HR Guru Mayank Rautela offers practical advice.
The norms, say industry experts, are not sufficient to weed out fly-by-night contractors.
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.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
'You are with each other 24x7, so how can you ignore someone crying next to you?' 'How can you not share a piece of chicken with someone who is sitting next to you and watching you eat it?' 'Of course, you will share.' 'And you become friends with the kind of people you never thought you'd even know.'
Announcing a slew of measures for the sector, he said GST-registered micro, small and medium enterprises will be sanctioned a loan of Rs 1 crore in just 59 minutes through a new portal.
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