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 ...
Two key labour reform bills to come up in Parliament: Dattatreya
The Dollar Business Bureau The Government, as a part of its Labour reforms, will present two major bills in the Parliament, related to wages and industrial relations in March for rationalisation and simplification of Labour Laws, said Bandaru Dattatreya, Minister of Labour and Employment. “Next week at the inter-ministerial meeting under the chairmanship of Finance Minister Arun Jaitely, we will take the final decision and after that we will go to the Cabinet. In the March (leg of Budget Session) both the bills would be introduced and I am hopeful it would be passed,” Dattatreya said, while speaking at the ASSOCHAM 96th Annual Function on Thursday in New Delhi. “All the 43 Labour Laws would be simplified and codified into 4 major ...
No concessions for foreign investors under Make in India: Commerce Minister
Minister defends Make in India in Parliament, says that the programme has received close to 5,000 queries so far The Dollar Business Bureau Amid growing concerns that the Make in India initiative has failed to provide any concrete push to Indias manufacturing or exports, the Indian government has come out with details stating that the programme remains afloat and continues to focus on manufacturing. Assuring that the programme does not pose any threat to Indian companies, Nirmala Sitharaman, Minister of State (Independent Charge) in the Ministry of Commerce & Industry, informed the Parliament today that no specific concessions have been offered to foreign investors under the Make in India programme. The election of the Modi government earlier this year had sparked enthusiasm among industry ...
Reforms in manufacturing, exports can bring India back to 8% growth: OECD
Modis reforms get a thumbs-up, but GST and other reforms must be implemented to ensure long term growth says OECD Bidhu Bhushan Palo | @TheDollarBiz Increased productivity is the foundation for comparative advantage, says Ms. Catherine L Mann, Chief Economist, OECD (Pic. Source - OECD/Marco Illuminati) Indias focus on manufacturing and move towards trade facilitation is a step in the right direction and implementation of reforms can help Indias Gross Domestic Product (GDP) get back on the 8% growth trajectory in coming years, according to the latest Organisation for Economic Co-operation and Development (OECD) Economic Survey of India. The Survey, presented in New Delhi by OECD Chief Economist Catherine L. Mann and Arvind Subramanian, Chief Economic Adviser to the Government of India, says ...
