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LATEST NEWS UPDATES | RBI says no notes shortage, outside Delhi hundreds face job losses -Malini Nair

RBI says no notes shortage, outside Delhi hundreds face job losses -Malini Nair

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published Published on Dec 8, 2016   modified Modified on Dec 8, 2016
-IANS

Around 8.30 every morning, hundreds of workers arrive at the main bus depot in Noida Phase II, about 30 km from New Delhi. They fan out into the lanes of the neighbouring hosiery complex. With nothing more than a tiffin box in their hands, they begin their daily job hunt.

Almost every factory gate has a board proclaiming "Avashyakta hai (wanted)". It lists the daily requirement of jobbers-tailors, finishers, 'pressmen' (as those employed for ironing are called), packers and so on-needed by the 200 small, export-driven garment units in the complex. The boards have been blank since the factories were hit by the aftermath of the demonetisation of Rs 500 and Rs 1,000 currency notes.

These men and women are among the 92 per cent of India's workforce employed in the informal sector, which generates about half the country's gross domestic product, according to the National Commission for Enterprises in the Unorganized Sector. Casual workers enjoy no job security or benefits of labour regulations, and about 79 per cent of them live below the official poverty line.

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The Economic Times, 8 December, 2016, http://economictimes.indiatimes.com/news/economy/policy/rbi-says-no-notes-shortage-outside-delhi-hundreds-face-job-losses/articleshow/55868511.cms?utm_source=twit


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