The economic reforms, initiated in 1991, is a significant development in the history of independent India. It changed the basic philosophy of India’s economic policies by making a paradigm shift from socialistic economic policies to free market neo liberal policies. The economic reforms were initiated to position India as a favourable destination for foreign capital by making structural adjustments at the behest of the World Bank and the IMF. The economic reforms envisages removal of various restrictions in doing business in India and is guided by the philosophies of liberalization, privitazation and globalization.
Economic Reforms : A new dawn or false dream for Indian labour.
Whether, the nation has truly benefitted from the policies of economic reforms is a matter of debate. However, what can be concluded from various researches and studies on Indian labour in the post economic reforms is that the reforms have ignored the interests of the labour and the working class. The various policies of the government, specially the present government led by Mr. Narendra Modi, have trampled the workers rights. Mr. Modi, in his attempt to market his so called new found love for ‘Make in India’ slogan to the Indian and foreign businessmen, is blatantly destroying the social security measures available to the workers in the name of labour reforms. Various provisions of employment laws such as the Factories Act, the Industrial Disputes Act, The ESI Act, the Maternity Benefits Act, etc have been diluted to make hiring and firing easy and to increase the bargaining power of the capitalists. Every possible attempt is being made to make Indian labour as cheap as possible by denying vast majority of the workforce their legitimate social security benefits. Neither the capitalists nor the government is concerned about increasing the workers productivity through investment in human capital by way of training, skill upgradation, etc.
In Hindu religion, Lord Vishwakarma is considered to be the god of work or labour. However, the millions of workers and labourers who help to run the wheels of industry in this country are the real Vishwakarmas. By exploting them, we can never achieve the goals of economic reforms. Only through a spirit of partnership and not confrontation between the capitalists and the workers, can we succeed in scripting the nations economic roadmap to glory.
*The author, Mr. Amit Kumar Dutta, Assistant Professor of Management at IILS, Siliguri can be reached through mail id amitdutta02@gmail.com
Image Credit: Google
Post contributed by:
Assistant Professor of Management at IILS, Siliguri
