New labour law in 6 months, social security net planned

NEW DELHI: The government said on Wednesday it would put in place a new labour law within the next six months, incorporating reforms in the sector, as part of measures to bring it in tune with the liberalised environment.
"We will have a new labour law within six months and there will be rationalisation of all labour laws," Labour Minister Sahib Singh Verma said on the sidelines of a seminar on ''Globalisation of Business and Markets'', organised by Tecnia Institute of Advanced Studies.
The new law would comprise new provisions and amendments to the 10-12 pending Bills, he said, adding that an umbrella organisation for the unorganised sector would be created.
"This will ensure social security for around 25-35 crore population," Verma said.
It is to be noted that according to a World Bank study, only 10 per cent of the population has any social security and of this, a vast majority are in the organised sector.
Pointing out "labour reforms have been delayed a lot," the minister said the need of the hour was to create more jobs and impart skills to the labour force.
In India, only 6-7 per cent of the workforce is skilled compared to 80 per cent in France and Germany, he said adding "there is a need for more skilled workforce."
He said the government would allot 10,000 houses under the Employees Provident Fund scheme on December 25.
In the first week of this month, the Central Board of Trustees had approved the housing scheme for EPFO members.
The government had asked chief ministers of all the states to allot land and a scheme for 10 lakh members would be worked out before the Prime Minister''s birthday on December 25, Verma had said during the EPFO meeting on December 4.
The Centre decided to provide a constructed house or plot of land to EPFO members, with Hudco as the nodal agency for building the houses and providing loans as well.
With this housing scheme, the government would be able to address the main element of the social security net. Other areas like food, clothing, health and education were also being addressed.
In Delhi, the Delhi Development Authority, Hudco and the Urban Development Ministry were working closely to provide housing units for Provident Fund subscribers.