New Delhi: Take pay cuts, but don't lay off employees is what India’s Union Minister for External Affairs Pranab Mukherjee said to the corporate sector on Friday.
The occasion was the 42nd annual labour conference held in the national capital under the aegis of the Labour ministry and the Finance Minister was to inaugurate it.
On the agenda were:
- ll Issues connected with contracts and involvement of labour
- Issues related to Migrant workers
- Role of Social Partners in appropriate Skill Development for employability
- Issues relating to Sales Promotion Employees in India
- Global Financial Crisis – its effects, namely large scale downsizing, layoffs, wage cut and job losses, etc
External Affairs Minister Pranab Mukherjee’s idea is but just one of several controversial ideas in the battlefield at the Labour conference. In fact, uncertainty is the only thing that is certain as India braces itself for a slowdown and a possible recession.
Montek Singh Ahluwalia, Deputy Chairman of the Planning Commission said, “Make no mistakes, this is a serious crisis.”
Mukherjee who also doubles up as Finance Minister said, “Even the Prime Minister has said that the impact of the recession might last one generation.”
The signs couldn't have been clearer and there were few ideas on how to kick-start the economy.
There are fewer still on how to protect jobs but the Finance Minister had a suggestion.
“Jobs must be protected even if it means some reduction in compensation in various levels,” proposed Mukherjee.
Some may question whether it wasn’t this very government that gave pay-hikes recently.
The words can hardly inspire any confidence in what turned out to be a clash of two cultures in the 42nd annual labour conference.
The Bharat Kaamgaar Union office bearers said, “The country has the worst of economic policies.”
Employers were not happy either and Sarthak Behuria, Chairman if Indian Oil Corporation said that aggressive labour unions should not be encouraged.
If there is any consensus, it is on the role that the government must play, provided Ahluwalia.
There is widespread recognition that the stimulus package has not worked yet.
Sarthak Behuria, Chairman if Indian Oil Corporation said, “Stimulus package has not worked.”
But labour Minister Oscar Fernandez did not miss an opportunity to bat for his party.
“Gandhi is the real aam aadmi (the common man) and we must be fighting for him.”
All stake holders agreed on the fact that India was going through an unprecedented economic crisis.
There is no idea about how long the tough time might last or how it is going to bottom out.
Most seemed to agree though, that both the industry and the labour sections must be protected.
The one thing missing was the road map to get there.
Comments
0 comment