Complex labour laws should not be an obstacle to the rate of job creation in the manufacturing industries in the country. Elaborate (200 Words)
Refer - Financial Express
Enrich the answer from other sources, if the question demands.
IAS Parliament 3 years
KEY POINTS
· That fresh payroll additions, as seen from EPFO subscriptions, plunged to 5.73 lakh in, the worst in about a year, is disappointing.
· They suggest the second wave of the pandemic may have done the job market some severe damage.
· Fresh recruitments, it would appear, have been limited except in sectors such as IT, banks and healthcare; hiring at TCS for instance jumped 9%, while, for Wipro, it was up 7%.
· While the services sector will, by and large, continue to provide employment opportunities for both white- and blue-collar workers hiring in the manufacturing sector is slowing sharply.
· To be sure, automation is playing some part in the reduction of workforce across factories.
· The new committee to determine the floor, which met for the first time last month, needs to bear in mind that a very high level would only deter companies from adding to their workforce.
· Given labour is a concurrent subject, state governments are empowered to further ease the laws and some like Rajasthan have taken the lead.
· The point is no law should be too onerous on industrial establishments; for instance, they must have the flexibility to hire either on a contractual or fixed term basis as long as the working conditions are good.
