Business Standard
Friday, Feb 17, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||||Economy & Policy||||| 
 Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says
Home > Economy & Policy Live Markets | Commodities
 
Minimum wage for informal sector in the works
BS Reporter / New Delhi April 05, 2007
The 422-million-strong unorganised workforce in the country could enjoy benefits like common minimum wage, fixed work hours and overtime benefits, if the government accepts two draft Bills currently being formulated by the National Commission for the Enterprises in the Unorganised Sector (NCEUS).
 
While one of the draft Bills covers the unorganised workers in the agricultural sector, the other is for the non-agricultural sector.
 
“At present, the Ministry of Labour prescribes a national minimum wage but it is not mandatory for the states to implement it. The two proposed Bills will make it mandatory for the states to adhere to the common national minimum wage for unorganised sector workers,” said Arjun K Sengupta, chairman, NCEUS.
 
The commission was set up as part of the commitments made under the Common Minimum Programme by the UPA government.
 
The Common National Minimum Wage will be fixed by the government within a year of the implementation of the proposed Bill. “We have proposed a periodical review of wages,” said Ravi Srivastava, a member of the commission.
 
“The draft Bills will be submitted to the government within five to six weeks,” added Sengupta. The commission will also recommend the government to set up a national fund for the unorganised sector which will be managed by a financial institution, on the lines of Nabard and Sidbi.
 
“Though the corpus is yet to be decided, we feel Rs 10,000 crore should be enough for the next five years. The initial corpus could be Rs 5,000 crore,” said Sengupta.
 
According to Srivastava, only 3-4 per cent of the unorganised enterprises have access to bank credit.

 
 

Minimum wage for informal sector in the works
BS Reporter / New Delhi Apr 05, 2007, 00:31 IST

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Wall Street opens flat as data offsets Moody's warning
- Thomas Cook India Q4 net jumps three times
- Govt plans to make 30% sourcing from MSEs mandatory
- Explain ways to cover govt loss on 3G roaming: TDSAT to telcos
- Magma Fincorp plans to start gold finance biz in H1 of FY13
  Read Business news in 
- Now property search gets more exciting than ever before!
- High Growth Business Opportunities in Africa - Register to explore
- Medium-sized businesses are the engines of a smarter planet.
- We live for our family. have you secured them?
- Office 365 for professionals and small businesses.
- Earn fuel worth Rs.2400 with Citi
- India's No. 1 Property Site. Click here to know more..
- Diseases earlier, Saving Costs, Extending Lives. Know More..
- Get 5% cashback on telephone bills with Citi
- Enjoy the journey as much as the destination. click to know more..
- Exim Bank Conclave on India - Africa Project Partnership. Know more..
- Be part of it The World's Largest Aircraft.
- Creating Wealth made simple the SIP way. Know more..
- Only Developer to give a guarantee on time space & rate.
- Buy Your Property with Our Triple Guarantee in India.
- Improve Patient Care & Experience. Click here to know more
- Win a Business Class Ticket to Europe..Know more..
-  Introduce a New Automotive Luxury Car.. know more
- Health is Wealth..... Insurance + Savings... Know More...
Sorry, comments to this story are closed
Latest Messages
SmartInvestor+ E-zine
  Pay Rs.747/- for 3 years and
  get a branded watch FREE

  Subscribe Now
Most Popular
Read
E-Mailed
Commented
   
- Asian stocks fall as Greek bailout delay dampens mood
- Marico: Stepping into unchartered territory
- Shyamal Majumdar: Beating about the boardroom
- Sonalde Desai: Sons of the soil
- Bhupesh Bhandari: A spectrum of disagreement
 
 More  
New Ipad Application
 Business Standard's all new IPad  App
 Click here to download for free
  BS Specials  
    Full coverage of elections in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa
  Hot Searches  
 
IRFC bond |  Antrix-Devas |  Rafale fighter |  Junglee |  IPL 5 |  Dhanlaxmi Bank |  Thomas Cook |  TCS |  Sarfaesi Act |  Vodafone |  Aakash tablet |  Sodexo |  Rupee |  Samsung Galaxy Note |  Kingfisher Airlines |  Silver |  Provident Fund |  income tax refund |  Anna Hazare |  iPhone |  Reliance Industries |  SEBI |  BSNL |  BSE |  NSE |  Mukesh Ambani |  Anil Ambani |  Infosys |  Pranab Mukherjee |  Sonia Gandhi |  Rahul Gandhi |  New Pension Scheme |  Reliance |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  B-School |  Sensex |  Tax calculator |  Home Loan |  Personal Finance |  inflation |  oil prices |  Barack Obama |   
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
FOR HOT PRODUCTS
BS Bazaar.com
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us