India Inc backs labour reforms, minimum wage

Free food grain for migrants

migrants to get 5kg wheat/rice per person and 1kg pulse per family for the next 2 months

PDS cards can be used in any ration shop in any part of country; 670 million beneficiaries in 23 states

Affordable rental housing scheme Converting government-funded housing to affordable housing complexes

Incentivising industries to build housing complexes on own land Incentivising govt agencies to develop such housing complexes

Additional emergency working capital funding through NABARD to benefit

30 mn small and marginal farmers

Special credit facility for street vendors for easy access to credit; 5 million street vendors expected to benefit boost to housing sector through Credit

Linked Subsidy Scheme (CLSS); those with ₹6-18L income to benefit

Concessional credit boost through Kisan Credit Cards to help 25 million farmers and fishermen of CAMPA funds to be used to create job opportunities in urban, semi-urban and rural areas

Relief for MUDRA-SHISHU loans-holders. Govt to provide interest subvention of 2% for a period of 12 months

The proposed labour code, which advocates a universal minimum wage and promotes formalisation of the workforce, is a step in the right direction, according to India Inc. The code also intends to modify the definition of inter-state migrant workers, which will allow welfare benefits to move with the movement of labour.

“For any business to flourish, there needs to be a proper ecosystem and a conducive environment,” said Jaxay Shah, president, Confederation of Real Estate Developers’ Association of India.

“Labour welfare is an integral part of any industry and efficiency improves when labourers feel secure,” he added.