-Business Standard While the revised estimates of the gross domestic product (GDP) suggest the Indian economy turned the corner in 2013-14, concerns remain over the durability of this nascent recovery. Particularly worrying is the recent slowdown in rural wage growth, which signals a weakening of rural demand. Growth in rural wages, which had averaged 18 per cent in the previous few years, fell to less than five per cent in September...
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Centre working on labour law changes -Somesh Jha
-Business Standard Working on clubbing all the 44 labour laws into five segments The Centre might take up changes to the Industrial Disputes Act on the lines of what the Rajasthan government recently did, sources said. The Union ministry has started work on clubbing all the 44 labour laws into five segments - industrial relations, wages, social security, working conditions and welfare cess. Sources told Business Standard the views of stakeholders had been taken...
More »Wealth of top 1% will be more than combined wealth of 99% by 2016: British charity
-AFP Paris: Wealth accumulated by the richest 1% will exceed that of the other 99% in 2016, the Oxfam charity said on Monday, ahead of the annual meeting of the world's most powerful at Davos, Switzerland. "The scale of global inequality is quite simply staggering and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast," Oxfam executive director Winnie Byanyima said. The richest...
More »Rajasthan hits the ground running -Shivpriya Nanda & Minu Dwivedi
-The Hindu Business Line Its bold labour reforms are a trendsetter, lending impetus to the ‘Make in India' initiative With ‘Make in India' taking centrestage in India's plan to position itself on a high growth track, far-reaching reforms in the labour, tax and land laws hold the key to the government's ambitions. The abundance of workers is undoubtedly India's biggest asset for its emergence as a preferred manufacturing destination. While the Centre has initiated...
More »Minimum monthly wages could go up to Rs 15,000 -Subhomoy Bhattacharjee
-The Indian Express The Centre plans to fix minimum national monthly wages at around Rs 15,000 for all jobs in both the formal and informal sectors in the country. The National Minimum Wages Act, 1948, lays down Minimum Wages for 45 listed economic activities, which also serve as Minimum Wages for these activities in the states. However, states can specify Minimum Wages for over 1,600 economic activities. Raising floor wages to Rs 15,000...
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