Indian industrial sector is generally criticized for being overprotective of its workers. The labour regulations are said to be too strict to allow firms to work efficiently and productively
Only 1 in 63 million enterprises in India are formally organized… To provide better social security to its workforce, the Indian government has recently passed three laws- Code on Wages Bill, Code on Occupational Safety, Health & Working conditions and Code on Social Security
Labor laws are the only aspect of Indian economy that hasn’t seen any fundamental change ever since the country gained independence…Considering the economic challenges posed by the pandemic to the economies worldwide, the reforms have been well timed and can help the country sail through these uncertain times.