The Indian economy will witness a further slump as the anti-labour policies of the Narendra Modi government at the Centre have adversely impacted the purchasing power of the people, according to CITU State general secretary and former MLA M.A. Gafoor.
The BJP-led government at the Centre proposed to abolition 44 labour laws while introducing four Labour Codes, which would have a bearing on the purchasing power of 40 crore workforce, he said here on Friday.
The NDA government was trying to please the corporate sector by diluting the labour laws. It was, however, failing to understand the consequences, Mr. Gafoor said. In the absence of job security and upward real wage revision, the employees will save their money for a rainy day. They will desist from purchasing cars, motorbikes, home appliances, etc. They will defer their travel plans as well. All these will have a cascading effect on the companies production. The governments revenue will also come down significantly, Mr. Gafoor explained.
The CITU will take the initiative to bring all the trade unions onto one platform and stage a protest in New Delhi in November when the Centre proposes to introduce three Labour Codes in Parliament, he said.
Recently, the government brought in the Code on Wages by subsuming the Minimum Wages Act, the Payment of Wages Act, the Payment of Bonus Act, and the Equal Remuneration Act. The new Code provides little protection for the workforce. All the rules and regulations are in favour of the managements. The government authorities, including the Labour Department, will have little powers, Mr. Gafoor said.
Referring the issues in the State, Mr. Gafoor charged the YSRCP government with not responding to the Left parties plea for a notification increasing the minimum wages of the employees in the unorganised sector.