Reforming labour laws

21 MAR,2021 | MEDC


 

Labour laws in India tend to stifle workplace productivity and employment generation, at least in the formal sector. That does not bode well for sustainableeconomic growth. Any further reform in this area has to focus on employment generation, rather than job reservation, which has now become a convenient tool aiding (politically distorted versions of) vocal for local. In a democracy, the aspirations of people matter. The free movement of labour within India reflects a market outcome and a response to unequal regional socioeconomic growth and employment opportunities. India has an acute unemployment problem and the private sector will account for resolving much of it. Unless labour laws are reformed so as to make them fair to all stakeholders, we risk smothering India’s entrepreneurial landscape irreparably. Joblessness is on the rise everywhere, but the way to deal with it is through far-sighted labour reforms, not politically convenient diktats that curtail the private sector’s entrepreneurial initiatives. 

*Photo Credit: Google

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