#LabourCodes provide exemplary flexibility to industries;Definition of "fixed term" employment has been changed,making it easier for firms to hire contractual workers
Fixed term/Contractuals®ular workers will enjoy equal benefits,in many spheres,to protect Contractual workers
Social SecurityCode by @narendramodi govt will universalize social security by bringing informal&platform workers, under its ambit
Firms with less than 20 workers can join #EPFO to get social security benefits
Big move by @narendramodi govt to give informal sector a safety net
Internal workers will be free to voluntarily join employee state insurance,#ESI,scheme for getting healthcare benefits
While @RahulGandhi&large swathes of India's leftist media simply whined about #Migrants, @narendramodi has gone ahead&done what needed to be done💪
In a pathbreaking move, @narendramodi govt has removed mandatory 5 year requirement for claiming gratuity,making it pro rata for fixed term,contract staff
#LabourCode’s definition of wages for purpose of gratuity calculation will raise quantum of gratuity payable,to employees 💪
For working journalists,Social Security Code by @narendramodi govt,provides,they can avail #gratuity after 3 years of service&for seasonal workers,gratuity equivalent to salary for 7 days will be provided,for every season of work
For permanent employees,5 day rule will continue
Earlier,5 year gratuity payment was mandatory, which meant workers used to forfeit gratuity deposits,as in,salary of 15 days,for every year of work,if they resigned or lost jobs before stipulated period
Firms would deliberately sack workers before 5yr term to save gratuity costs
#Rupee has fallen far lower Vs #Dollar,comparatively👇
Euro,2 days ago,went below $1 for 1st time in 20yrs,reflecting big weakness in #Euro
Rupee,displaying strength,has risen big time against Euro,Pound &Yen💪
So #Madarsa dentists from Congress should stop lecturing on Rupee
@narendramodi govt in a landmark measure has allowed international trade settlement in #Rupees
Explained👇
When countries import&export goods&services,they have to make payments in foreign currency
Since US Dollar is world’s reserve currency,most trades are entered into in USD
Here,both parties involved have to incur conversion expenses&bear risk of foreign exchange rate fluctuations
This is where trade settlement in Rupee comes in-instead of paying &receiving US Dollars,invoice will be made in Indian Rupees if counterparty has #Rupee Vostro account
Some Business News anchors are saying Rupee has fallen against Dollar because our monthly #TradeDeficit is hitting $20bn&our Current Account Deficit(CAD),will be 3%
Well,$20bn a month Trade Deficit is no big deal for us,given that our Goods+Services Exports are a massive $670bn
2.5-3% CAD for an economy growing at average of 7.5-9.5% is not a big deal either
In fact,in last 8yrs,average CAD under @narendramodi govt has been sub 2%,so we have enough leeway on that count
Why then are major Currencies falling against Dollar?
Industrial growth estimated at 11.8% &Services at 8.2% in FY22 show how Economy under @narendramodi is ready to fire on all cylinders
Most Growth Parameters are back to pre-Pandemic levels,as India heads into #UnionBudget2022
#GDP&GVA growth 1.3%&1.9% over Pre #COVID19 levels
#EconomicSurvey shows,be it Operationalisation of Airports or Spread of Bank Branches, @narendramodi govt has truly transformed India,with financial inclusion getting top priority
India set to be Fastest growing for next 2yrs as per IMF,thx to bold reforms by #PMModi #Modinomics