Parliament Passes Labour Reform Bills To End Investors’ Hurdle

The new bills include the industrial relations code that will allow companies with as many as 300 workers to fire them without seeking prior government approval, a three-fold jump from the current threshold

NEW DELHI : India’s parliament approved a set of long overdue labor legislations that aim to attract investment and make it easier for companies to do business in the South Asian nation.

The new bills include the industrial relations code that will allow companies with as many as 300 workers to fire them without seeking prior government approval, a three-fold jump from the current threshold.

The other two bills that have been approved are related to social security and occupational safety. The upper house of parliament passed the bills Wednesday after they were cleared by the lower house a day earlier. As routine procedure the bills now require the president’s assent to become laws.

The bills strike a balance between worker welfare and the ease-of-doing business, Santosh Gangwar, minister for labor and employment, said during the debate on Tuesday.

Source: livemint

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