The Hindu : PM seeks consensus on economic reforms

Online edition of India's National Newspaper
Sunday, Sep 29, 2002

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PM seeks consensus on economic reforms

By Our Special Correspondent

The Prime Minister, Atal Behari Vajpayee, with the Union Labour Minister, Sahib Singh Verma, and the Haryana Chief Minister, Om Prakash Chautala, at the 38th session of the Indian Labour Conference in New Delhi on Saturday. — Photo: V.V. Krishnan

NEW DELHI Sept. 28. Aware of the Parliamentary arithmetic, which does not permit the Government to push economic reforms through the legislative agenda, the Prime Minister, Atal Behari Vajpayee, today once again called for a political consensus on the issue.

"Consensus and opposition politics should not be contradictory. A line has to be drawn somewhere and national interest should be paramount if the country has to achieve eight per cent economic growth and deal with poverty and unemployment,'' Mr. Vajpayee said, inaugurating the 38th session of the Indian Labour Conference here.

Stating that India could not stay aloof from the developments in the wake of globalisation "except at her own peril,'' he, however, made it clear that in a bid to accelerate economic reforms, "we shall never dilute our commitment to broadening the social security net for workers.''

The needs of labour had to be adequately met and the interests of workers safeguarded, he said, adding that there could be no room for exploitation of labour by capital.

Referring to the second National Labour Commission report on issues of welfare, safety and security of labour, he said a decision on the recommendations would be taken soon. He assured the trade unions that the Government would consider their demands for raising the ceiling on bonus and introducing suitable changes in recognising trade unions by identifying a truly representative negotiating agency.

Since labour reforms played an important part in growth strategy and created new employment opportunities for skilled and unskilled labour, it (reform) was "the only right choice'', Mr. Vajpayee said.

`EPF rates won't change'

The Union Labour Minister, Sahib Singh Verma, in his presidential address, ruled out any change in the prevailing rate of interest on the Employees Provident Fund. Ignoring the reservations of the Finance Ministry, he maintained that the rate of interest would continue at 9.5 per cent, as it was paid out of the income earned from the fund.

Harshu Bahi Dave of the Bharatiya Mazdoor Sangh, speaking on behalf of trade unions, demanded that all the "anti-labour" recommendations of the National Commission on Labour be rejected. He also opposed disinvestment in profit-making PSUs.

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