Skip to main content

Labour reforms: Talks fail, unions to strike on Sept 2

By
Central trade union leaders on Wednesday refused to withdraw their nationwide strike call for September 2 to protest against proposed labour reforms, after their meeting with a group of ministers (GoM) failed to make any headway.

The GoM, headed by finance minister Arun Jaitley, will meet the union leaders again on Thursday to break the logjam and deliberate on their demands, senior labour ministry officials told HT.

The 12-point charter of demands include urgent measures for containing price rise through universalisation of the public distribution system (PDS), ban on speculative trade in the commodity market, strict enforcement of basic labour laws without any exemption or exception, and stringent punitive measures for violation of labour laws, among others.

“There are 7-8 demands, which are agreeable and the discussion is an ongoing process….the government is positive about the demands (of labour unions). The meeting will continue tomorrow,” labour minister Bandaru Dattatreya said after the two-hour long meeting.

Trade unions, however, refused to budge. “We have refused to withdraw our September 2 nationwide strike. The government has called us again tomorrow for another round of meeting,” Gurudas Dasgupta, general secretary, All India Trade Union Congress, told HT.

During Wednesday’s meeting, the government defended its position and said that labour reforms are needed for the country, sources said. Union leaders, however, said the government did not offer any concrete assurance on their charter of demands.

“The call for the strike stands as of now because there is no concrete assurance from the government in today’s meeting,” said AK Padmanabhan, president, Centre of Indian Trade Unions, who attended the meeting.

“We agreed to come tomorrow for the meeting because we don’t want to leave the table, otherwise they will blame us for not discussing the issues. There is no agreement on any issue so far,” he added.

Hindustan Times, New Delhi, 27 August 2015

Comments

Post a Comment

Popular posts from this blog

Household debt up, but India still lags emerging-market economies: RBI

By
  Although household debt in India is rising, driven by increased borrowing from the financial sector, it remains lower than in other emerging-market economies (EMEs), the Reserve Bank of India (RBI) said in its Financial Stability Report. It added that non-housing retail loans, largely taken for consumption, accounted for 55 per cent of total household debt.As of December 2024, India’s household debt-to-gross domestic product ratio stood at 41.9 per cent. “...Non-housing retail loans, which are mostly used for consumption purposes, formed 54.9 per cent of total household debt as of March 2025 and 25.7 per cent of disposable income as of March 2024. Moreover, the share of these loans has been growing consistently over the years, and their growth has outpaced that of both housing loans and agriculture and business loans,” the RBI said in its report.Housing loans, by contrast, made up 29 per cent of household debt, and their growth has remained steady. However, disaggregated data sho...
Post a Comment
Read more

External spillovers likely to hit India's financial system: RBI report

By
  While India’s growth remains insulated from global headwinds mainly due to buoyant domestic demand, the domestic financial system could, however, be impacted by external spillovers, the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report published on Monday.Furthermore, the rising global trade disputes and intensifying geopolitical hostilities could negatively impact the domestic growth outlook and reduce the demand for bank credit, which has decelerated sharply. “Moreover, it could also lead to increased risk aversion among investors and further corrections in domestic equity markets, which despite the recent correction, remain at the high end of their historical range,” the report said.It noted that there is some build-up of stress, primarily in financial markets, on account of global spillovers, which is reflected in the marginal rise in the financial system stress indicator, an indicator of the stress level in the financial system, compared to its p...
Post a Comment
Read more

Retail inflation cools to a six-year low of 2.82% in May on moderating food prices

By
  New Delhi: Retail inflation in India cooled to its lowest level in over six years in May, helped by a sharp moderation in food prices, according to provisional government data released Thursday.Consumer Price Index (CPI)-based inflation eased to 2.82% year-on-year, down from 3.16% in April and 4.8% in May last year, data from the Ministry of Statistics and Programme Implementation (MoSPI) showed. This marks the fourth consecutive month of sub-4% inflation, the longest such streak in at least five years.The data comes just days after the Reserve Bank of India’s (RBI) Monetary Policy Committee cut the repo rate by 50 basis points to 5.5%, its third straight cut and a cumulative reduction of 100 basis points since the easing cycle began in February. The move signals a possible pivot from inflation control to supporting growth.Food inflation came in at just 0.99% in May, down from 1.78% in April and a sharp decline from 8.69% a year ago.A Mint poll of 15 economists had projected CPI ...
Post a Comment
Read more