Labour unions on Monday asked government to stop the process of labour reforms in the name of ease of doing business.
According to Panagariya, NITI Aayog is working with states to initiate reforms on the subjects under the state and concurrent lists.
"There is no in-principle objection to the two bills that we discussed today," a senior labour ministry official told ET after the inter-ministerial committee meeting.
The Bill, laid in Lok Sabha earlier this month, also seeks to enhance the monthly bonus calculation ceiling to Rs 7,000 per month from existing Rs 3,500.
India's exports declined for the twelfth month in November, indicating that tepid global demand continues to be a drag on economic recovery.
NITI Aayog is considering a series of big ticket agriculture reforms that include changes in the fertiliser policy to allow free import of urea, explore transgenic crops in pulses and oilseeds and make land laws transparent.
Retirement fund body EPFO is expected to give higher rate of interest on provident fund in 2015-16 and a decision is likely to be announced at its next board meeting in January.
However, Geete admitted that the performance of BHEL is improving and the company has got robust orders in the current fiscal.
According to Panagariya, if we want Indian economy to transform tweaking the current equilibrium will just not work.
Nine months after announcing the setting up of Atal Innovation Mission, Niti Aayog is in the process of setting up the secretariat to successfully run the mission.
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