The UPSC Daily
11th August 2017
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In news : Code on Wages bill,2017
The government introduced in the Lok Sabha ‘The Code on Wages’ bill which seeks to empower the Centre to fix a “universal minimum wage” aimed to benefit over 40 crore unorganised sector workers.
The Code would ensure universal minimum wage for all industries and workers. Moreover, it will also cover those workers who are getting a monthly pay of higher than Rs 18,000.
– The Code on Wages Bill seeks to empower the Centre to set a minimum wage across sectors and states will have to maintain that.
– Moreover, the best part is that states will be able to provide for higher minimum wage in their jurisdiction than fixed by the Central government.
– Besides, the minimum wage would be applicable on all classes of workers. At present, it is applicable for scheduled industries or establishments in the law.
– The universal minimum wage would be applicable for all workers irrespective of their pay.
– As of now, minimum wages are now applicable to 51 scheduled employments only. Now, the wage code amalgamates the provisions of four extant Acts — the Minimum Wages Act, 1948, The Payment of Wages Act, 1936, The Payment of Bonus Act, 1965, and the Equal Remuneration Act, 1976. It means the wage code aims at reducing disparity in minimum wages across states. This means the proposed Code on Wages will subsume the Minimum Wages Act of 1948, the Payment of Wages Act of 1936, the Payment of Bonus Act of 1965 and the Equal Remuneration Act of 1976.
– The wage code will empower the Centre to notify a ‘national minimum wage’ (below which no state can fix their minimum wages) and this will be revised every two years (five years if the dearness allowance becomes part of the minimum wages).
In news :15th BIMSTEC ministerial meeting begins in Kathmandu
Foreign ministers of member countries will review the progress in identified fourteen areas of cooperation and discuss ways to accelerate cooperation under the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) process.
Bay Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation(BIMSTEC)
South Asia : Bangladesh, India, Sri Lanka, Bhutan and Nepal.
South East Asia:Myanmar, Thailand
Free trade agreement
“BIMSTEC FTA may help activate production links among member countries and help in rationalising various non-tariff measures which would give a big push to regional trade and generate regional value chains. India should work closely with all members for its conclusion,” a study by Assocham on the opportunities and challenges of economic integration of BIMSTEC said.
Other recommendations to boost economic engagement include elimination of non-tariff barriers within a mutually agreed timeframe, reduction in negative list (prohibited imports) to unlock trade potential, introduction of transit facilities to promote effective intra-BIMSTEC trade, improvement in regional connectivity and introduction of a BIMSTEC visa to facilitate movement of people particularly for investors and businessmen.
In news : District Collectors start preparing vision document for new India initiative
Mr Modi appealed to all the district collectors to move beyond files and go into the field to understand the ground realities.
Responding to the Prime Minster Narendra Modi's directive, District Collectors have started preparing vision document for the new India initiative.
In news :The Banking Regulation (Amendment) Bill, 2017
Parliament has passed the Banking Regulation (Amendment) Bill, 2017
The Vice President's Interview