The Rajya Sabha on Wednesday passed three bills on social security, industrial relations and occupational safety to unify more than two dozen labor laws that frequently deter investment in India. These bills have already been passed by the Lok Sabha and now require the approval of the President to come into force, which is merely a formality.
Broadly, these law amendments will improve the ease of doing business in the country, although the power to repeal many of the old rules that businesses complain about has been delegated to state governments. This may cause some variation in the country on how easily workers can be laid off, but it does provide case studies that will allow us to assess the impact of labor-market flexibility on economic progress. Let’s see if even companies that lay off employees easily hire them. We have to cross the Kovid crisis to grow formal employment. Businesses are not only happy with bills. Gig workers should receive long-term benefits for payroll employees. Is good. In general, the country needs to treat all workers the same.