The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today said that the Government is keen on fostering a conducive labour environment wherein labour rights are protected and harmonious labour relations lead to higher productivity. Legislative reforms will be undertaken to simplify, rationalize and amalgamate the existing labour laws into 4 Codes on (i) wages; (ii) industrial relations; (iii) social security and welfare; and (iv) safety and working conditions.

The Finance Minister Shri Jaitley further said that the Model Shops and Establishment Bill 2016 has been circulated to all States for consideration and adoption. This would open-up additional avenues for employment of women. The amendment made to the Payment of Wages Act, is another initiative of our Government for the benefit of the labour and ease of doing  business.

Labour law consolidation into unified codes simplifies compliance and aims to broaden employment opportunities and welfare. Legislative reform proposes to simplify, rationalize and amalgamate existing labour statutes into four codes on wages, industrial relations, social security and welfare, and safety and working conditions. The Model Shops and Establishment Bill 2016 has been circulated to States to promote employment of women, and an amendment to the Payment of Wages Act is presented as a measure to benefit workers and ease doing business by clarifying wage payment compliance.