Hire 'n' fire at will
The Budget has proposed to amend the labour laws by removing the priorgovernment approval for effecting lay-off, retrenchment and closure byindustrial establishments employing less than 1,000 workers against theearlier stipulation of more than 100 employees.It has also proposed to increase the separation compensation to 45 days fromthe present 15 days for every completed year of service.
Farm credit to go up
Total credit flow to agriculture through institutional channels ofcommercial banks, cooperative banks and regional rural banks is estimated tohave reached Rs 51,500 crore this year, an increase of about 15 per centover last year. It is expected to increase to Rs 64,000 crore in 01-02.
Cover for jobless
The proposed Ashraya Bima Yojana will provide compensation to workers wholose their jobs.
More kisan credit cards
The banks will be asked to accelerate Kisan Credit cards to cover alleligible farmers within the next three years. Nabard to charge lessThe interest rate charged by Nabard will be reduced from 11.5 per cent to10.5 per cent. Nabard and Sidbi are asked to link 1 lakh self-help groupsduring the current year.
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
