Concern over lay-offs in IT sector

Members in the Rajya Sabha today expressed concern over rampant lay-offs in the Information Technology sector, with the government saying it would work towards providing safeguards to the employees.
During the Question Hour in Rajya Sabha, Congress member Anand Bhaskar Rapolu raised the issue and sought to know about the steps the government was taking to protect the interests of the workers who were facing rampant and "unceremonious termination" of their services.
Responding to the concerns, Labour Minister Bandaru Dattatreya said that the government would work to provide safeguards to them.
Dattatreya said the government was trying to provide social security and over one crore new workers have been brought into the ambit of the employees provident fund net.

He said that an interest rate of 8.65 per cent was being provided this year on EPF. The government was also focussing on portfolio management, he said.