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News Misc. Corporate Laws & Other Commercial Policies

  • Oct 20, 2014
  • PSU workers may be allowed to participate in decision-making process

    After announcing several labour reforms last week, the Narendra Modi government is considering allowing workers to participate in board decision of state-run firms such as Oil and Natural Gas Corporation, Coal India, NTPC, Indian Oil Corporation and BHEL. The policy proposal, an initiative of the labour ministry, is expected to be initially confined to state-run enterprises, but its scope could be enlarged later to include private firms, government and industry officials said. "The labour ministry is expected to initiate consultations with all stakeholders, including representatives of industry and labour unions from Monday," a source with direct knowledge of the development said. A similar proposal was initiated 34 years ago in the form of "the Participation of Workers in Management Bill", which was introduced in the Rajya Sabha in May 1990, but was put on the backburner by various governments because the industry vehemently opposed it, sources said.

    Source - http://economictimes.indiatimes.com