Free up the labour market
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India, March 18 -- Since 1991, a lot has been said, written and debated ad lib about liberalisation, globalisation and ease of doing business. However, not much has been said about the need to free the employment market . Discussions on a new/alternative labour laws do take place. So do talks on the need to revise minimum wages. Do we not realise that tinkering of this nature would take the economy nowhere? Time and again, Governments raise the minimum wages to seek applause. Some labour or trade union leaders do clap but that would be about it. Such moves do not increase employment. If anything paradoxically, they bring down wages.
The Industrial Disputes Act, 1947, has been the guiding code of all employment, except for the uppermost l...
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