Union Budget 2019: Modi Govt Mulls Code on Wages Bill in Monsoon Session In Step Towards Labour Law Reforms
With two days remaining for Finance Minister Nirmala Sitharaman to present the Union Budget 2019 on July 5, the Narendra Modi government is expected to take up the Code on Wages Bill at the Cabinet Meeting in the ongoing Monsoon Session of the Parliament.
New Delhi, July 3: With two days remaining for Finance Minister Nirmala Sitharaman to present the Union Budget 2019 on July 5, the Narendra Modi government is expected to take up the Code on Wages Bill at the Cabinet Meeting in the ongoing Monsoon Session of the Parliament.
The Code on Wages is among the four first of the four proposed bill that has been long envisaged to usher in reforms in the archaic labour market. They include wages, industrial relations, social security and industrial safety and welfare. All these proposed bills are aimed at enhancing the ease of doing business while ensuring labour rights and welfare at the same time. Narendra Modi Govt Mulls Major Rejig in Labour Laws; Plans to Decrease Them From 44 to 4
According to a senior official, the present Minimum Wages Act and the Payment of Wages act applies only to employees engaged in the scheduled and specific employment. The official had said, as reported by The Hindustan Times, "The Code on Wages allows provisions of minimum wages and payment of wages to cover employees in both organised and unorganised sector." Union Budget 2019 Predictions: Finance Minister Nirmala Sitharaman to Open Pandora Box on July 5; Here's What to Expect
With the Code on Wages bill, if passed in the Parliament, the wages can be paid by depositing it in the bank account of the employees, electronically or by cheque. Though the labour code was first envisaged during the previous UPA era, the Congress-led coalition government didn’t have the numerical support to push labour reforms in Parliament. The aim, that time too, was to simplify complex labour laws and club 44 such laws into just four codes.
(The above story first appeared on LatestLY on Jul 03, 2019 04:40 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).