-The Hindu On the contrary, scrapping labour laws will only reduce wages, lower earnings and reduce consumer demand Following the adage, “never waste a crisis”, the government of Uttar Pradesh, last week, introduced an ordinance that has scrapped most labour laws for three years — ostensibly for creating jobs and for attracting factories exiting China following the outbreak of the novel coronavirus. These laws deal with the occupational safety, health and working...
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Choking the Lifeline of Rural Economy: MGNREGS during COVID-19 Lockdown -Manish Kumar
-Vikalp.ind.in When the entire country is under a lockdown and many economic activities stopped, thousands of unemployed workers are returning to their home states due to lack of money and food. In such a situation, the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) could have played a very important role in generating income and demand in the economy. However, the official data available from the MGNREGS website of the Ministry...
More »Migrant Workmen Act, 1979, must be rationalised to remove requirements that disincentivise formalisation -KP Krishnan, Anirudh Burman & Suyash Rai
-The Indian Express The Act was enacted to prevent the exploitation of inter-state migrant workmen by contractors, and to ensure fair and decent conditions of employment. The fallout of the lockdown in order to reduce the spread of COVID-19 highlights the urgent need to rationalise the legislative framework for labour in India. Migrant labour has been among the worst affected due to the lockdown. Their efforts to leave the cities before the...
More »Explained: What explains crude oil prices falling below the $0 mark -Udit Misra
-The Indian Express The first thing to understand is that, even before the Covid-19 induced global lockdown, crude oil prices had been falling over the past few months. US oil markets created history on Monday when prices of West Texas Intermediate (WTI), the best quality of crude oil in the world, fell to “minus” $40.32 a barrel in New York. Not only is this the lowest crude oil price ever known —...
More »Unorganised workers have been hit hard, need direct payments, India Inc tells PM Modi -P Vaidyanathan Iyer
-The Indian Express Over the last few weeks, many daily wage labourers and part of the unorganised or informal sector could not find work because of the lockdown. AT LEAST six top corporate leaders are said to have recommended to Prime Minister Narendra Modi that the government should make payments to unorganised sector workers since they bear the brunt of the severe lockdown measures to arrest the spread of Covid-19 disease. N Chandrasekaran,...
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