The brunt of the economic slowdown is being borne by the manufacturing sector. The
sector lost almost five lakh jobs in just the October-December quarter of 2008 and there are
no greenshoots of recovery yet. But, the Economic Survey has boldly called for big-ticket
labour reforms, a hire-and-fire policy and allowing contract labour.
At present, companies need to take prior permission for the government before they can
retrench or lay-off workers. "This (Chapter 5 of the Industrial Disputes Act) needs to be
removed with simultaneous increase in compensation from the present 15 days' wages for
every year of service," the survey said.
source :
http://in.news.yahoo.com/48/20090703/1238/tbs-survey-proposes-hire-and-fire-policy.html
sector lost almost five lakh jobs in just the October-December quarter of 2008 and there are
no greenshoots of recovery yet. But, the Economic Survey has boldly called for big-ticket
labour reforms, a hire-and-fire policy and allowing contract labour.
At present, companies need to take prior permission for the government before they can
retrench or lay-off workers. "This (Chapter 5 of the Industrial Disputes Act) needs to be
removed with simultaneous increase in compensation from the present 15 days' wages for
every year of service," the survey said.
source :
http://in.news.yahoo.com/48/20090703/1238/tbs-survey-proposes-hire-and-fire-policy.html
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