Government Makes the Four Labour Codes effective to Simplify and Streamline Labour LawsFour Labour Codes Herald Transformational Change: Better Wages, Safety, S https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2192463&RegID=3&LID=1
Saturday, 22 November 2025
PIB:Government Makes the Four Labour Codes effective to Simplify and Streamline Labour LawsFour Labour Codes
Subscribe to:
Post Comments (Atom)
3 comments:
Arvind Panagariya: PM Modi has taken the courageous step of replacing 29 archaic labour laws, most of them predating Independence or the founding of the Republic, with four unified labour codes. If there ever was a mother of all reforms, this one is it. This one is culmination of 25 year long odyssey.(Perhaps it is due to economic reforms of great PVN Rao which increased real wages of organised/unorganised during that period till now and gift of pension to organised workers. Retirees of financial sector are fighting for increased pension due to increased wages of In-service at SC. What a pity? Nearly a million retirees of financial sector died with starvation/stagnation wages with no pension/pittance of it without any sympathy from the litigants themselves as they themselves were in-service while six wage settlements every 5 years without fighting for "Pension is undisbursed wage after retirement for increased wage while in service" collaborating with the views of DFS due to selfishness unlike RBI staff for decades. So Karma is punishing continuously till this day. Even partial win is not expected from present two member bench. Senior counsels of litigants had not opened their mouths regarding lakhs and lakhs crores of windfall profits given by LIC to GOI in the form of 96.5% shares of LIC and dividends of 68 years when praying before SC. They had not told the bench to convince that GOI got back its investment of 5 crores with 12% interest cumulatively for 69 years ie.,15000 crores plus 6000 crores more by selling minuscule 3.5% shares of LIC. As retirees of LIC had become Dead-Wood, the in-service is satisfied with the ripple effect from bankrupt banking sector to highly profitable LIC as they are not even ready to agitate for TU rights snatched under Sec 48 of LIC Act 1981.)
One should go through the long article on legal matters on the unofficial blog of anti-pension and its upgradation AIIEA/AIIPA which have control over 85% in-service and retirees and not bothered entering legal arena for two decades. He elaborated about anti-worker judgments of Misra bench at SC and ex CJI/Single bench of DHC. But he has not revealed that these were due to sec 48 of LIC act 1981against which no employee including EX raised his little finger for 44 years and crying now without use. Further when Windfall profit of some lakhs of crores from LIC to GOI is evident, one need not raise some hypothetical profit by intelligent investing of pension fund by other means is waste of precious time. Like SBI, LIC is/was capable of giving pension and its upgradation to retirees from 1.9.56 with arrears even with interest which is after all continuation of pension prevailing at "Oriental and Imperial BANK " Capitalist corporates and and denied in LIC prime Socialist corporate.
Leave alone all other PSUs, in market values SBI and LIC occupies 6th and 10th rank among Indian Corporates. But GOI has 96.5% shares of LIC worth 570578 crores and 57% of SBI worth 903585 crores being 1st and 2nd rank respectively as at Nov'25 among PSUs. What a tragedy SBI retirees got pension from 1955, even after giving lakhs of crores to write off to wilful defaulters at the command of DFS while LIC retirees got pension from Nov'93 perhaps with little NPAs to write off. No one is prepared to say this fact at two member bench of SC even on 3.12.25. They are preparing to split hairs on enormous laws in this connection.
Post a Comment