Skip to main content

Labour Ministry Wants 15x Hike in Rehab Cost of Bonded Labourers

By
Rehabilitation cost per labour is equally borne between the Centre and the state
The labour ministry has proposed a massive increase in rehabilitation cost of bonded labourers from Rs.20,000 to up to Rs.3 lakh, a fifteen-fold jump that may cost the government dear but could benefit the BJP-led NDA regime politically as majority of the estimated one million bonded labourers in the country are Dalit farmers.
A draft note on the ministry's website for inviting comments said that henceforth the revised scheme will be centrally administered, with rehabilitation package of Rs.1 lakh per adult male beneficiary. Rehabilitation cost per labour under the scheme is equally borne between the Centre and the state and was last revised in 1999.
“For special category beneficiaries such as young chil dren, the rehabilitation assistance shall be Rs.2 lakh while for disabled people it will be Rs.3 lakh,“ the note said.
ET had last month reported that the govern ment is planning to substantially raise assistance under the scheme.
As per the proposal, Rs.1.25 lakh out of the assistance of Rs.2 lakh for special category ` people will be deposited in annuity scheme while Rs.2 lakh of the Rs.3 lakh for disabled people will be deposited in the annuity scheme.
The government currently provides a financial assistance of Rs.20,000 for rehabilitation of all kinds of bonded labourers, be it men, women, children or physically challenged people.
Bonded labour, sometimes also referred as debt bondage or debt slavery , involves a person's pledge of labour or services as security for the repayment for a debt or other obligation. The services required to repay the debt are undefined as is the duration of work, leading to huge exploitation of these labourers at the hands of their employers.
The Bonded Labour System (Abolition) Act, 1976, provided for the constitution of a vigilance committee at district and sub-divisional levels in each state and union territory for identification, release and rehabilitation of bonded labourers in the country .
Following this, the government launched a centrally sponsored scheme for rehabilitation of bonded labourers in 1978 under which assistance up to Rs.4,000 per bonded labour was provided. This was raised Rs.6,250 in 1986 and further to to Rs.10,000 in 1995 before fixing it Rs.20,000 in 1999 which is prevat alent till date.
The Economic Times, New Delhi, 22nd Sept. 2015

Comments

Post a Comment

Popular posts from this blog

Govt’s gamble on GST cuts: What do the bond and currency markets signal?

By
  It’s not just humans who suffer from cognitive biases; markets do too. Interestingly, different financial markets exhibit distinct biases, each interpreting events through its own prism of prejudice. Take the recent announcements on GST reforms: equity markets have chosen to view them through the lens of growth, while bond and currency markets are focusing on potential macroeconomic risks—fiscal pressures and current account challenges. So, which lens captures the true pulse?Equity markets may be right in expecting GST reforms to revive consumption, which has remained lacklustre for a while. But the key question remains—will this revival come at the cost of broader macro stability?It is well known that consumption stocks have rallied since the GST rationalisation announcement. But what about bond markets? What signals are they sending since this rejig was announced from the ramparts of the Red Fort?The signs aren't encouraging. Bond prices have slumped and yields have surged sinc...
Post a Comment
Read more

Luxury carmakers urge clarity on GST rates to boost festive season sales

By
  A clear picture regarding new GST rates at the earliest will help the overall auto industry, including the luxury car segment, to regain momentum in the ongoing quarter, which generally sees enhanced sales on account of the festive season.The high-powered GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3-4 to discuss moving to a two-slab taxation.In an interaction with PTI, BMW Group India President and CEO Hardeep Singh Brar said the recent speculation about the change in GST rates has caused uncertainty in the minds of consumers.Consumer interest and demand is strong, but they (prospective buyers) have adopted a wait-and-watch approach, and this delayed decision-making is impacting new vehicle sales at a certain level, he noted."Expediting clarity on GST rates is essential to get back to speed and ensure the auto sector's contribution to economic growth during this quarter is robust," Brar stated.He also hoped that the sustainable p...
Post a Comment
Read more

Sebi proposes tighter norms for green bond third-party reviewers

By
  Sebi on Friday said it has proposed to tighten the norms to appoint independent third-party reviewers or certifiers for green debt securities to align them with requirements for other ESG-linked bonds.In a draft circular, Sebi said that the current norms for green bonds, introduced in February 2023, lack detailed requirements around reviewer independence, conflict of interest mitigation, and disclosure standards that are now in place for other ESG-linked securities under a June 2025 circular.The regulator's latest proposal seeks public comments on a revised framework that would bring parity by incorporating comprehensive criteria for third-party certifiers of green bonds on non-convertible securities.Under the proposed norms, issuers of green debt securities will need to appoint reviewers who are independent of their management, directors, and key managerial personnel. These reviewers will be remunerated in a way that prevents any conflicts of interest and possess relevant expert...
Post a Comment
Read more