Government to fine-tune labour codes before seeking Cabinet nod

By: | Published: March 9, 2017 3:34 AM

The government will fine-tune the twin codes on wages and industrial relations before introducing them in Parliament.

Economic Survey 2017, Budget 2017, Arun Jaitley, Narendra Modi,Cohort-based Migration Metric (CMM), Finance, Migration of labourSince the government is keen on passing the two codes in the second half of the budget session, starting on Thursday, it is likely that the next ministerial panel meeting would happen soon. (Reuters)

The government will fine-tune the twin codes on wages and industrial relations before introducing them in Parliament. A ministerial panel led by finance minister Arun Jaitley on Wednesday discussed the drafts that form the crux of the government’s agenda for relaxing labour market rigidities and decided to deliberate upon the provisions once again before placing them before the Cabinet.

Since the government is keen on passing the two codes in the second half of the budget session, starting on Thursday, it is likely that the next ministerial panel meeting would happen soon. Once agreed, both the codes, which have already undergone legal vetting, would be taken for the Cabinet’s approval and once that is secured, these would be placed in Parliament.

Among the major proposals are introducing fixed-term employment — which was made applicable in the textile and garment industries last year — in all the sectors, allowing units employing up to 300 people to retrench/lay off workers and/or close down without government approval, making trade unions with negotiating powers more representative, barring outsiders from being office-bearers of unions in the organised sector and reducing such person’s role in union activities in the unorganised sector.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition