【New Delhi】Calling for the need to fight economic slowdown, Finance Minister Arun Jaitley on the 25th July said, "We need to increase economic and manufacturing activity."
"Veerappa Moily mentioned the problem of stagflation. There are rare cases when you have a slowdown in the economy and inflation at the same time. This is referred to as stagflation. It will be too extreme to say that we have reached that situation. Our growth had slowed down but that there was stagnation is over statement," Jaitley said. Talking about inflation, Jaitley said, "Inflation cannot be tackled only by raising interest rates."
"We must be able to generate more economic, industrial and manufacturing activity," Jaitley explained while debating the Budget. "We have to put more money in the hands of the average citizen so that his spending also increases," he added.
○Labour reforms: Govt to ease rules on apprentices, women
【New Delhi】The Narendra Modi Cabinet is likely to consider amendments to three labour laws in the next meeting. These include dropping a provision that permits arresting employers under the Apprenticeship Act. However, relaxed retrenchment norms, like those proposed by Rajasthan in its labour reforms, are not part of the current scheme of things.
Besides the Apprenticeship Act, 1961, the Factories Act, 1948, and the Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, 1988, will come up for discussion in Cabinet. If approved, these pieces of legislation will be tabled in the current session of Parliament.
【News source】
FM Jaitley: Focus on putting more money in the hands of average citizen
Labour reforms: Govt to ease rules on apprentices, women
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