Niti Aayog suggests labour reforms for high productivity
The Dollar Business Bureau According to Niti Aayog, the government's think-tank that replaced the planning commission, labour reforms are needed to induce productivity and create jobs in the market. The report on labour importantly suggests unifying 44 labour laws into four central ones. The reforms mooted by a panel headed by Arun Jaitley, the Finance Minister, offers an overview of development activities as part of a three-year draft action-agenda. The logic behind the labour-reforms stems from challenges relating to industrial relations, establishing commensurate wages, social-security and safety for labourers as well as adopting a global labour code. Reforms in labour laws, or centralizing labour codes would also provide a fillip for investments in many sectors, besides reducing the burden of compliance. The draft-agenda ...
Industries may shift out of Delhi if govt hikes minimum wages: FICCI
PTI In view of the Delhi government's plan to increase minimum wages by 30-40 per cent, FICCI has written to Labour Minister Gopal Rai, saying that this may lead to shifting out of several industries from the national capital to neighbouring states. The industry body has also indicated that the proposed hike in minimum wages will severely "hurt" the growth of micro and small enterprises in the national capital and hence the AAP government should reconsider this proposal. "As this sector accounts for creating maximum employment and operates on marginal viability, a substantial increase in wages is not sustainable and may see closure of many small and tiny enterprises and loss of employment will be the direct outcome. "Further increase in wage may only force industry ...
Free trade agreement with China will not benefit India
The Dollar Business Bureau Time is not yet ripe for India to go ahead and sign a Free Trade Agreement (FTA) with China, says the Associated Chambers of Commerce of India (ASSOCHAM). This was stated by the ASSOCHAM in its paper on ‘Should India sign a Free Trade Agreement with China?’, released on Monday. In its study, the ASSOCHAM further suggested that such FTA may not fit at this point of time, even though such an arrangement is a key issue of economic cooperation in order to face Chinese competitiveness in the international markets. The Sino-India economic cooperation is huge and important, but, at this juncture, it would bring gains in favour of China and will further reinforce the existing ...
Indias export growth likely to touch 7% in FY2016: Report
The Dollar Business Bureau As global growth momentum improves and moderating inflation boosts competitiveness, India’s export growth is expected to be at 3.2% for FY2015 and might inch up to 7% in FY2016, said Asian Development Outlook (ADO) 2015, an annual publication of the ADB (Asian Development Bank). In FY 2016, the current account deficit will expand to 1.5% as recovering oil prices raise oil imports. Rising industry and investment will raise demand for imports other than commodities, bringing overall import growth to 5%. Further growth recovery in the advanced economies would boost exports, and petroleum exports would benefit from higher oil prices, the report added. Stating that the government investment in infrastructure for energy, transport and industry is ...
