Budget 2024: Govt to work with states on land, labor reforms, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the government will facilitate the provision of a wide array of services to labour, including those for employment and skilling, as part of the Economic Policy Framework which will delineate the overarching approach to economic development and set the scope of the next generation of reforms for facilitating employment opportunities and sustaining high growth. “A comprehensive integration of e-shram portal with other portals will facilitate such a one-stop solution,” Sitharaman said while presenting the Union Budget 2024-25.

“Open architecture databases for the rapidly changing labor 19 market, skill requirements and available job roles, and a mechanism to connect job-aspirants with potential employers and skill providers will be covered in these services,” Sitharaman said.

Further, the Shram Suvidha and Samadhan portals will be revamped to enhance ease of compliance for industry and trade, FM Sitharaman added.

The government is of the view that effective implementation of several of these reforms, including land land labour, requires cooperation between the Center and the states and building consensus, as development of the country lies in development of the states.

“For promoting competitive federalism and incentivizing states for faster implementation of reforms, I propose to earmark a significant part of the 50-year interest-free loan,” Sitharaman added.

However, the Budget has failed to signal any roadmap for the implementation of Labor Codes, even after four years of their passage in the Parliament, which could impact the ease of doing business in the country.

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