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Scholars suggest India's rigid labour laws and excessive regulations assumed to protect the labour are the cause of slow employment growth in high paying, organised sector. India's labour-related acts and regulations have led to labour-market rigidity. This encourages shadow economy for entrepreneurs, an economy that prefers to employ informal ...
Indian labour law refers to law regulating labour in India. Traditionally, the Indian government at the federal and state levels has sought to ensure a high degree of protection for workers, but in practice, this differs due to the form of government and because labour is a subject in the concurrent list of the Indian Constitution .
Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms. [1] [2] Because these labourers exist as parts of a social, institutional, or political system, labour economics must ...
According to Alakh Sharma, the causes of high unemployment and under-employment in India are the subject of intense debate among scholars. A group of scholars state that it is a consequence of "restrictive labour laws that create inflexibility in the labour market", while organised labour unions and another group of scholars contest this proposed rationale.
The Ministry of Labour & Employment is one of the oldest and most important Ministries of the Government of India. This is an India's federal ministry which is responsible for enforcement of labour laws in general and legislations related to a worker's social security. [2] The Ministry aims to create a healthy work environment for higher ...
The institution represented unfree labor with fewer rights, but "the supposed slavery in [ancient] India was of mild character and limited extent" like Babylonian and Hebrew slavery, in contrast to the Hellenic world. The "unfree labor" could be of two types in ancient India: the underadsatva and the ahitaka, states Ishay.
The first National Commission on Labour was set up on 24 December 1966 under the Chairmanship of Justice P. B. Gajendragadkar. [1] The Commission submitted its report in August, 1969 after detailed examination of all aspects of labour problems, both in the organised and unorganised sectors. [2] [3]
Labour market flexibility. The degree of labour market flexibility is the speed with which labour markets adapt to fluctuations and changes in society, the economy or production. This entails enabling labour markets to reach a continuous equilibrium determined by the intersection of the demand and supply curves. [1] [2]