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With economic slowdown leading to huge layoffs in certain sectors, the government on Friday said jobs must be retained even if it meant cut in compensation.
"Jobs must be protected even if it means some reduction in compensation at various levels," Finance Minister Pranab Mukherjee said at International Labour Conference in New Delhi.
He said the the government is making all out efforts to ensure flow of credit to boost trade and investment, consumption and to stimulate additional demand through public and private expenditure.
Mukherjee later told reporters that in the interim Budget he had talked of encouraging investments in infrastructure and in housing and real estate, adding that the government is providing adequate resources for programmes like NREGA and Bharat Nirman.
"If the work can be stepped up to a considerable extent, these are directly linked with employment creation and also demand creation. (If) more and more good roads are constructed, cement, steel, every thing will be required. They will get jobs. These type of programmes should be expedited and adequate resources will be provided," he said.
His remarks came as the government today informed Parliament that 5 lakh people lost their jobs during the four-month period ending December 2008, on account of economic crisis in sectors including textiles, automobile and IT.
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Pay cuts for the rest of the populations after the babus get hefty pay hikes. Please note that govt servants get 3 pay hikes every year. First the annual increment and secondly approx two dearness allowance hikes every year - to account for inflation. Their salaries are inflation proof!!
Dear empoyers pls note that UPA has already committed to the electorate that India has not been affected by the global economic crises and that because of the efforts of the government there have been no loss of jobs in India.So pls keep up our word and try to maintain all your workers. You may pay them some pocket money till the elections are over and then it is upto to after that. If you do not have money there are loads of fake currency recovered from Pakistan agents by our revenue dept. Pls manage to run the show till the elections are over.Otherwise BJP will come to power and our talibanisation process will receive a huge jolt. You see even Pakistan who are ages behind us have suceeded in making atleast one town under taliban. We cannot let India down . We have already started the process from Madarasas and all our efforts to take indians to heaven quickly must not be dashed at this jucnture only for want of money.
Will the GOI minsters start the noble mission by forsaking their salaries and allowances for even a month? Come on ,Minister,we look up to you 'leaders'.
Lets have a law that the highest paid in any company cant be more than 100 times the lowest paid - as in total compensation, and not more than 10 times the average pay.
Yes, every politicians, corporate bosses can say so, after filling their coffers.