The Bangalore Chamber of Industry and Commerce (BCIC) has welcomed the Union Cabinet’s decision to approve amendments to three key labour laws. The amendments to the labour law was proposed during the Budget announcement made by Union Finance Minister Arun Jaitley.
A N Chandramouli, President, BCIC said: “These amendments will create a conducive atmosphere for business and labour. Some of the recommendations such as doubling the provisions of overtime from 50 hours a quarter to 100 hours; relaxing the norms of female participation in labour intensive sectors such as , readymade garments, are long standing demands of the BCIC which has been finally addressed by the new Government.”
‘Well strategized’ T Valliappa, Vice President, BCIC said: “Given the fast changing economic dynamics the world over, the amendments is a well strategized synergy to promote both labour welfare and industry-friendly reforms.”
He further added that these proposals would create a favourable climate and improve the ease of doing business in the country. This would benefit employers and employees. He further added that reducing the number of days to 90 from 240, for eligibility of benefits, will encourage more absenteeism which the industry is already grappling with.