NEW DELHI: With economic slowdown leading to huge layoffs in certain sectors, the government on Friday said jobs must be retained even if it meant cut in compensation.
"Jobs must be protected even if it means some reduction in compensation at various levels," finance minister Pranab Mukherjee said at International Labour Conference here.
He said the government is making all out efforts to ensure flow of credit to boost trade and investment, consumption and to stimulate additional demand through public and private expenditure.
Mukherjee later told reporters that in the interim Budget he had talked of encouraging investments in infrastructure and in housing and real estate, adding that the government is providing adequate resources for programmes like NREGA and Bharat Nirman.
"If the work can be stepped up to a considerable extent, these are directly linked with employment creation and also demand creation. (If) more and more good roads are constructed, cement, steel, every thing will be required. They will get jobs. These types of programmes should be expedited and adequate resources will be provided," he said.
His remarks came as the government on Friday informed Parliament that 5 lakh people lost their jobs during the four- month period ending December 2008, on account of economic crisis in sectors including textiles, automobile and IT.
Mukherjee said the social welfare net needs strengthening because it will provide the base for socially harmonious shift in the pattern of employment.
Strengthening of local demand, empowerment and ownership of the growth process can be ensured only through directed investment aimed at the socially disadvantaged sections of the society, the finance minister said.
"Only then can we mitigate the trend for large-scale labour migrations. Strengthening of the health and education services and the protection of the pension systems is the need of the hour if we, as a nation, are to turn this crisis into an opportunity," Mukherjee said.
His remark came as the interim pension regulator is slated to roll out a new pension system for all citizens, except the government employees from the beginning of next fiscal.
The government has earmarked over Rs 1,800 crore for this scheme, which will include the unorganised sector as well.
"We must display spirit of solidarity by sharing equally the pain of this crisis. A humane globalisation is the answer to the current crisis and its attendant danger of social discord or, even, the heightened risk of terror," he said.
Mukherjee said the government has taken several measures also to protect those who are not exposed. The steps include social protection and unemployment benefits, facilitating additional training and targeted safety nets.
"We are working in the direction of supporting productive, profitable and sustainable enterprises together with a strong social economy and a viable public sector so as to maximise employment," Muckier added.
In his interim Budget speech, the finance minister had quoted Nobel laureate Amartya Sen as saying, "along with old slogan of growth with equity, we also need a new commitment towards downturn with security, given the fact that occasional downturns are common-possibly inescapable- in market economies."
Employment generation schemes have to be expanded and social security nets have to be strengthened to protect the vulnerable sections of the society, he said.
Soruce:http://timesofindia.indiatimes.com/
"Jobs must be protected even if it means some reduction in compensation at various levels," finance minister Pranab Mukherjee said at International Labour Conference here.
He said the government is making all out efforts to ensure flow of credit to boost trade and investment, consumption and to stimulate additional demand through public and private expenditure.
Mukherjee later told reporters that in the interim Budget he had talked of encouraging investments in infrastructure and in housing and real estate, adding that the government is providing adequate resources for programmes like NREGA and Bharat Nirman.
"If the work can be stepped up to a considerable extent, these are directly linked with employment creation and also demand creation. (If) more and more good roads are constructed, cement, steel, every thing will be required. They will get jobs. These types of programmes should be expedited and adequate resources will be provided," he said.
His remarks came as the government on Friday informed Parliament that 5 lakh people lost their jobs during the four- month period ending December 2008, on account of economic crisis in sectors including textiles, automobile and IT.
Mukherjee said the social welfare net needs strengthening because it will provide the base for socially harmonious shift in the pattern of employment.
Strengthening of local demand, empowerment and ownership of the growth process can be ensured only through directed investment aimed at the socially disadvantaged sections of the society, the finance minister said.
"Only then can we mitigate the trend for large-scale labour migrations. Strengthening of the health and education services and the protection of the pension systems is the need of the hour if we, as a nation, are to turn this crisis into an opportunity," Mukherjee said.
His remark came as the interim pension regulator is slated to roll out a new pension system for all citizens, except the government employees from the beginning of next fiscal.
The government has earmarked over Rs 1,800 crore for this scheme, which will include the unorganised sector as well.
"We must display spirit of solidarity by sharing equally the pain of this crisis. A humane globalisation is the answer to the current crisis and its attendant danger of social discord or, even, the heightened risk of terror," he said.
Mukherjee said the government has taken several measures also to protect those who are not exposed. The steps include social protection and unemployment benefits, facilitating additional training and targeted safety nets.
"We are working in the direction of supporting productive, profitable and sustainable enterprises together with a strong social economy and a viable public sector so as to maximise employment," Muckier added.
In his interim Budget speech, the finance minister had quoted Nobel laureate Amartya Sen as saying, "along with old slogan of growth with equity, we also need a new commitment towards downturn with security, given the fact that occasional downturns are common-possibly inescapable- in market economies."
Employment generation schemes have to be expanded and social security nets have to be strengthened to protect the vulnerable sections of the society, he said.
Soruce:http://timesofindia.indiatimes.com/
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