-The Hindu India does not create 55 lakh new jobs every year, as claimed by a new report A recent research report titled “Towards a Payroll Reporting in India” authored by the Group Chief Economic Adviser of the State Bank of India and a professor from the Indian Institute of Management, Bangalore has caught the media’s and the Prime Minister’s fancy. Ostensibly, the main objective of the report was to make a...
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Companies slash Diwali gifts by 35-40% due to demonetisation, GST: Assocham
-PTI An Assocham survey shows the 35-40% reduction in gifts from corporate houses was in sync with low-key festivities due to slowdown concerns Lucknow: Reeling under disruptions arising out of demonetisation and goods and services tax (GST) rollout, corporate India is going rather lukewarm in Diwali gifts, slashing the budget under the head by at least 35-40%, the Associated Chambers of Commerce and Industry of India (Assocham) said. A survey by industry chamber...
More »Absolute Decline In Jobs, Says New CDS Study, Drop Sharpest In Last Three Years
-Outlook According to the Labour Bureau’s Employment Unemployment Surveys, total employment in the country shrank by about 0.4 per cent annually between 2013-14 and 2015-16, a number which corresponds to 37.4 lakh people being unemployed. There has been an absolute decline in employment – number of people with jobs – between 2013-14 and 2015-16, possibly for the first time since independence, a new study published in the EPW journal says. Three...
More »Trade Unions Reject the Wage Code Bill 2017
-Newsclick.in The Labour Ministry introduced the Code on Wages Bill 2017 in the Lok Sabha on August 10, with the ostensible aim of ensuring a statutory national minimum wage and other protections to all wage workers in the country. The Code seeks to replace the four existing laws relating to wages – the Payment of Wages Act, 1936; the Minimum Wages Act, 1948; the Payment of Bonus Act, 1965; and the Equal...
More »Govt is working on simplifying labour laws: Santosh Gangwar
-PTI NEW DELHI: The government is committed to labour reforms and simplification in the related laws to safeguard workers' interest, Labour and Employment Minister Santosh Kumar Gangwar said on Sunday. Listing a slew of steps to protect workers' interest, the minister said provisions have been made in the Employees' Compensation (Amendment) Act, 2017 to increase the penalty for its contravention from Rs 5,000 to Rs 50,000, which is extendable to Rs 1...
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