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Reforms do not mean complete abolition of labour laws, says Rajiv Kumar

Published

4 years ago

May 24, 2020

Reforms do not mean complete abolition of labour laws, says Rajiv Kumar

NEW DELHI: Amid concerns over changes in labour laws in various states, Niti Aayog Vice Chairman Rajiv Kumar on Sunday said
reforms do not mean complete abolition of labour laws and that the central government is committed to protecting the interests of workers.In recent weeks, various state governments, including Uttar Pradesh and Gujarat, have either made amendments or proposed changes to existing labour laws as part of larger efforts to help businesses that have been hit hard by the coronavirus pandemic.

“I have just noticed that the Union Ministry of Labour is firming up its stance to tell the states that they cannot abolish labour laws because India is a signatory to the International Labour Organization (ILO),” Kumar told PTI in an interview.

“Therefore, it is clear that the Union government does not believe that the reform of labour laws implies complete lack of labour laws… The government is committed to protecting the interest of workers,” he said.

He was replying to a query on whether labour
reforms by states like Uttar Pradesh and Gujarat can be done without creating some kind of social safety net for wokers.

Recently, the Uttar Pradesh government approved an ordinance to exempt various industries from certain labour laws for three years to revive the state’s economic activities.

Madhya Pradesh has also tweaked some labour laws amid the nationwide lockdown to spur economic activities. Some other states are also likely to follow suit.

About the country’s macroeconomic situation, Kumar said that just like the rest of the world, India is also suffering from the negative impact of the COVID-19 pandemic.

The pandemic has resulted in serious loss of economic activities in the first two months of the first quarter of fiscal 2021-21, he said.

Referring to RBI saying that the country’s growth is likely to remain in the negative territory in the current fiscal, Kumar said, “the extent of that (negative growth) cannot be forecast at this point of time because there are too many unknowns, both in the domestic scene and in the global scene”.

On Friday, Reserve Bank of India (RBI) said the impact of COVID-19 is more severe than anticipated and the GDP growth during 2021-21 is likely to remain in the negative territory.

According to Kumar, the objective of the Rs 20 lakh crore-economic stimulus package announced by the government was to revive aggregate demand and not just consumer demand.

“Huge amount of liquidity has been infused by the RBI and the Finance Minister’s encouragement to all the banks to improve their credit flows means that it will help revive aggregate demand in the economy.

“So, the key therefore is that the financial sector and especially banking sector now becomes less risk averse and improves the credit flow to the MSMEs as well other segments of economy. If that happens, then the demand will revive and we will see the revival of economic activities in the country,” Kumar emphasised.

On whether there should be monetisation of deficit by RBI, the Niti Aayog Vice Chairman said the government is looking at all possible options to finance the stimulus package.

When asked about the possibility of companies shifting their operations from China to India, Kumar said, “if we get our act together and we get the right policies to target companies which are making plans to move out of China, I think there is no reason to believe that they will not shift to India”.

To curb spreading of coronavirus infections, India and many other countries have imposed lockdowns, which have also impacted economic activities.

Kumar said coronavirus induced-lockdowns have impacted different sectors of the economy as well as the entire global economic and trade situation.

The lockdown in India was imposed on March 25 and it has been extended thrice. The lockdown is to end on May 31.

(Note: This is a Article Automatically Generated Through Syndication, Here is The Original Source

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Net Worth

Karl-Erivan Haub Net Worth 2024: How Much is the Former Managing Director of the Tengelmann Group Worth?

Published

57 mins ago

April 20, 2024

Vishnu Chaudhary

Karl-Erivan Haub Net Worth 2024: How Much is the British musician and bassist Worth?

Who is Karl-Erivan Haub?

Karl-Erivan Haub, a prominent figure in the German retail industry, was born into the influential Haub family on September 29, 1932, in Wiesbaden, Germany. He was the son of Erich Haub and Elizabeth Haub (née Schmitz-Scholl), belonging to the esteemed Mülheim family Schmitz-Scholl, renowned founders of the Tengelmann grocery chain.

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Karl-Erivan Haub Career

Haub’s career trajectory was marked by his dedication to the Tengelmann Group, one of Germany’s largest retail entities. After completing internships in the United States and obtaining a degree in economics from the University of Hamburg, Haub joined the family business in 1963. He ascended to the position of managing director in 1969, steering the company’s strategic direction towards retail trade expansion. Notable milestones include the acquisition of The Great Atlantic & Pacific Tea Company in 1979, which cemented Tengelmann’s international presence.

Karl-Erivan Haub Net Worth

At the time of his passing in March 2018, Karl-Erivan Haub left behind a significant net worth of $6.4 billion. However, recent developments have sparked intrigue, with reports surfacing of his alleged reappearance in Moscow after being declared legally dead in 2021. The circumstances surrounding his net worth remain uncertain amidst this perplexing saga.

Karl-Erivan Haub Age

Born on September 29, 1932, Haub would have been 91 years old in 2024 if he had not been declared legally deceased in 2021.

Karl-Erivan Haub Family: Wife and Children

Haub was married to Helga Otto in 1958, and together they had three sons: Karl-Erivan, Georg, and Christian W.E. Haub. His dedication to family and philanthropy underscored his personal and professional endeavors, leaving a lasting legacy beyond the business realm.

Karl-Erivan Haub Height and Weight

Details regarding Karl-Erivan Haub’s height and weight are not readily available.

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Net Worth

Suge Knight Net Worth 2024: How Much is the Co-founder and Former CEO of Death Row Records Worth?

Published

1 hour ago

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Vishnu Chaudhary

Suge Knight Net Worth 2024: How Much is the Co-founder and Former CEO of Death Row Records Worth?

Who is Suge Knight?

Suge Knight, born Marion Hugh Knight Jr. on April 19, 1965, in Compton, California, emerged as a pivotal figure in the music industry as the co-founder of Death Row Records. Despite his upbringing in a challenging environment and his brief stint as an NFL replacement player for the Los Angeles Rams, Knight’s true legacy lies in his influential role in shaping West Coast rap culture.

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Suge Knight Career

Knight’s journey began as a concert promoter and celebrity bodyguard in the late 1980s before he ventured into music publishing. His pivotal moment arrived when he co-founded Death Row Records in 1991 alongside Dr. Dre, The D.O.C., and a silent partner. Under Knight’s guidance, Death Row Records became synonymous with gangsta rap and launched the careers of iconic artists such as Tupac Shakur and Snoop Dogg.

Suge Knight’s Net Worth

Despite his significant contributions to the music industry, Suge Knight’s net worth has experienced a significant decline over the years. As of 2024, his estimated net worth stands at $210,000, a stark contrast to his once-mighty empire.

Suge Knight Age

At the age of 59, Suge Knight’s journey reflects a tumultuous blend of success and controversy. Born on April 19, 1965, Knight’s impact on hip-hop culture transcends generations, leaving an indelible mark on the industry despite his legal battles and personal challenges.

Suge Knight Family: Wife and Children

Knight’s personal life has been as turbulent as his professional career. He has been married multiple times, including to R&B singer Michelle, with whom he shares a daughter named Bailey. Knight’s family life has been marred by legal disputes and controversies, reflecting the complexities of his persona.

Suge Knight Height and Weight

Standing tall at 6 feet 2 inches and weighing approximately 120 kg (265 lbs), Suge Knight’s physical presence mirrors his commanding influence in the music industry. His imposing stature, coupled with his robust build, symbolizes the power and authority he wielded during his heyday.

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Viral

Jeff Bezos Lookalike Cagdas Halicilar Enjoys Lavish Lifestyle By Impersonating The Billionaire

Published

19 hours ago

April 19, 2024

Subhashree Panda

Jeff Bezos Lookalike Cagdas Halicilar Enjoys Lavish Lifestyle By Impersonating The Billionaire

A 46-year-old German man, Cagdas Halicilar, is currently the talk of the town as he has emerged on the internet as Jeff Bezos’ lookalike.

Thus, Cagdas Halicilar has transformed his profession into a professional Jeff Bezos doppleganger from an electrician.

The 46-year-old reveals that now he lives an opulent lifestyle as an entrepreneur.

Cagdas Halicilar was often told by his family and friends that his looks were similar to those of a billionaire. However, only when he saw Jeff Bezos’ picture, did he understand what people around him meant.

The New York Post reported that Halicilar dreamed of becoming a successful business executive. With him founding CB Transporte, a transport company, he lived his dream.

After accepting his resemblance to Jeff Bezos, Cagdas Halicilar enrolled himself at a doppelgänger agency.

Cagdas Halicilar Gained Popularity by Being Jeff Bezos’ Lookalike

Most of the time, he dressed up in casual attire which made him look more like a billionaire, as Jeff Bezos also dressed up casually.

Halicilar added, “It doesn’t matter whether I’m wearing a suit or wearing jeans and a polo shirt.”

He added how it requires a bit of effort to maintain his appearance like a billionaire. He shaves his head and applies Nivea cream regularly. The German doppleganger added that he has been doing the same for more than ten years now.

The 46-year-old has gained a lot of popularity and recognition over the years for his work as Jeff Bezos’s doppelgänger. His spouse complained that people often stopped him and asked for selfies on the street.

In the “King of Stonks,” the German Netflix miniseries, he also had a guest spot.

When in Seattle once, Cagdas Halicilar strolled through the Amazon campus. Surprisingly, Amazon employees thought that he was Jeff Bezos, reported TimesNow.

He said,