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ITC 441.15↑7.65(1.76%)
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UPL 675.80↓-6.45(-0.95%)
Wipro 394.10↓-5.60(-1.40%)

Modi govt enters final year of 2nd term: Business that remains unfinished

Here's a look at some projects that are hanging fire

Premium

Since labour is a concurrent subject, it will take a lot of effort to bring all states and stakeholders on the same page

5 min read Last Updated : May 25 2023 | 10:03 PM IST

On September 23, 2020, when Parliament passed three labour reform Bills to replace 29 existing labour laws, amid a boycott by the Opposition parties, Prime Minister Narendra Modi hailed the “futuristic legislation” that would ensure workers’ well-being, reduce compliance burden and boost economic growth.

Nearly three years later, the reform remains on the back burner amid opposition from labour unions and many state governments. As the Narendra Modi government enters the final year of its second term in office, it has little time left to complete its unfinished agenda.

Amit Basole, a professor at the Azim Premji University, says the cobweb of existing labour regulations necessitated these codes. However, the government has to walk a tightrope between entrepreneurs’ need for a flexible regime and workers’ welfare.