Increasing take home salary by lowering employees’ mandatory contribution to PF is like enjoying today and leaving little for the rainy days
If cleared by the Cabinet, this will be the second major labour reform approved by the government
According to the Survey, a comparison between indicators for labour, capital and productivity of manufacturing firms reveals that flexibility in labour laws creates a more conducive environment for growth of industry and employment generation.
India’s jobs challenge will not be resolved in a year. Yet, by unclogging the compliance pipeline, the budget can make a significant difference, changing the way India works and meeting its aspirations.
The divergence can only be bridged by getting underemployed workers out of stagnant agriculture and into the higher productivity formal sector
The BJP has been voted back to power at a time when the overall economic growth is slowing with no visible sign of a cyclical recovery.
Consumption is expected to remain the driver of growth this fiscal year
A balance between efficiency, productivity and equity will be critical for sustaining economic growth.
The industrial policy, which was billed as a comprehensive rule book aimed to turn India into a friendlier business destination, was initially set for launch last year
Whichever government comes to power must fast-track reforms to spur growth
The Labour Force Participation Rate (LFPR) of females in India is among the lowest in the world. And this comes as no surprise.
At present, fixed-term employment is allowed only in textiles and apparels.
The Bill aims to fix a "universal minimum wage" to benefit more than 40 crore unorganised sector workers.
The clout enjoyed by trade unions, which could once influence management decisions for workers and also successfully create roadblocks if demands were not met, is slowly reducing.
The Economic Survey 2016-17 said that multiple labour laws are allowing companies to circumvent laws to engage people on contract and casual basis
Noting that in both apparel and footwear sectors, tax and tariff policies create 'distortions' that impede India gaining export competitiveness, the Survey said that there is a need to undertake 'rationalisation' of domestic policies which are inconsistent with global demand patterns.
Labour Ministry has decided to fix the minimum wage at Rs 350 per day for unskilled agricultural labour in C-class towns in central sphere to be effective from November 1, 2016.
"Though the revenue is not very high in drum closures business, the bottom line is good because we are continuously in the process of cost cutting, saving in raw material and labour", Sharad Saraf, MD, Technocraft Industries India told CNBC-TV18.
Ringing Bells' Freedom 251 smartphone, whose launch in February crashed the company's website, is priced at Rs 251 - possibly the cheapest Android smartphone in the world.
According to the global financial services major, the root cause of the challenging macro environment in India over the past few years has been the sharp deterioration in the productivity dynamics.
Government has set up a welfare fund which will utilise unclaimed money, estimated to be in excess of Rs 9,000 crore, lying in PPF, employees provident fund and small savings schemes to provide healthcare facilities and pension to senior citizens.
Winding up a debate on the Payment of Bonus (Amendment) Bill, 2015 in the Lok Sabha, Labour Minister Bandaru Dattatreya also said that following the recommendations of the second national labour commission, 44 central labour laws would be converged into four codes.
Aditya Birla says that these are interesting times with services business doing well, but manufacturing facing headwinds due to commodity prices.
According to BCG, four industrial groupings -- computers & electronic products, electrical equipment & appliances, transportation equipments, and machinery - will account for around 75 percent of robotics installations in next decade.
Jamie Dimon, Chairman & CEO, JPMorgan feels India's growth, including this year, would be at around 7 percent, which is the fastest of almost all nations. Added to that, Prime Minister Narendra Modi wants to get more foreign direct investment, which is also very good