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Labour Code

07 April, 2020, 09:36 AM IST

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LABOUR CODE

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  • The NSSO and other independent studies indicate that the percentage of causal and self-employed workers in urban areas is over 60% of the workforce. These sections have had the immediate loss of earnings due to the Covid-19-related lockdown measures. The numbers are likely to rise, unless governments take immediate decisive steps.

    Builders in Maharashtra have already stopped construction work since Sunday in the backdrop of a state wide lockdown directive by the government. An initial tranche of Rs 20 crore will be released for grocery and daily maintenance allowance of these workers. Currently, there are 1 million homes being constructed across Mumbai Metropolitan Region (MMR).

    “Advisory by the government, both the labour ministry and home ministry, is not at all working at ground level to prevent loss of employment and earnings and also eviction from local residence in the process of lock down,” the unions said in a joint statement.

    According to the Indian Society of Labour Economics, assuming that about 20 crore households will require cash assistance, the total quantum of assistance will be about Rs 3,60,000 crores over three months. It has also sought wage compensation to support unorganized sector and the medium and small scale enterprises to tide over the unprecedented crisis.

    If the migrants do not return, both they and the economic activity they have deserted would be worse off in the short run. In the medium term, more intense mechanisation and higher wages that redeploy local manpower might take care of the missing workers. Right now, we have to worry about the near term. The workers have to be persuaded to come back.

    Ministry feels delay is essential as bills’ technical provisions are significant. The ministry has decided to seek the committee’s views as it feels the proposals will have farreaching implications, but the move may slow down the pace of labour reforms being pushed by the government.

    Entering 2020, the government hopes that India would be able to implement all four codes on wages, industrial relations, social security and occupational safety, health and working conditions. These are expected to improve ease of doing business and safeguard interest of workers.

    Since field officers are not able to conduct the survey, the government may go for repetition, substitution or estimation to cover up the missing data when it computes the index for determining the daily allowance for government employees, a senior government official told.

    National Company Law Tribunal (NCLT) had recently allowed 90 days extension for the resolution process of Jet Airways while in the case of RCom, lenders have approved the resolution plan currently submitted to the tribunal for its approval.

    Sitharaman recently said that if the disruption caused by coronavirus extends then it would suspend the use of the corporate insolvency resolution process for sometime. The finance minister had also increased the minimum amount of the default required to initiate the insolvency resolution and liquidation processes against companies from Rs 1 lakh to Rs 1 crore.

    The bill seeks to remove bottlenecks and streamline the corporate insolvency resolution process. It aims to provide protection to new owners of a loan defaulter company against prosecution for misdeeds of previous owners. The latest changes pertain to various sections of the IBC as well as introduction of a new section.

    IRPs appointed under the Insolvency and Bankruptcy Code (IBC) have approached the finance ministry, seeking clarity on several aspects regarding the Central Board of Indirect Taxes and Customs (CBIC) notification issued on Saturday and a follow-up circular on Monday, people familiar with the development said.

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