Notes and Study material for Exams
Labour Welfare: Government policies, Schemes and programmes Objectives of Labour Welfare In the beginning humanitarianism and social awareness motivated labour welfare activities. Driven by the desire for greater efficiency and out put from workers and with a view to attract better workers, employers lured them into their Organisation through labour welfare measures. Further, … Read more
Labour Welfare – problems and issues Land is an indispensable but a passive factor production in economics. No production is possible without the use of labour. We cannot expect any production without labour i.e., why it is said to be an indispensable and active factor of production. Labour is one of the main … Read more
Inflation is a sustained increase in the general price level of goods and Services in an economy over a period of time. When the price level rises, each unit of currency buys fewer goods and services.It is the Percentage change in the value of the Wholesale Price Index (WPI) on a year-on year basis. It effectively … Read more
Definition: Industrial legalizations are the laws enacted by the Government to provide economic and social Justice to the workers in industries. Generally these laws provide guidelines to the employers/industrialists in dealing with the matters of wages, wage incentives, facilitates for workers and the working conditions of labour. Necessity: Improves industrial relation i.e. employee-employer relations and … Read more
JOB CREATION As outlined in the NITI Aayog’s Action Agenda, India suffers more from the problem of underemployment (i.e. low-productivity, low-wage jobs) than Unemployment as for example: In 2011-12, agriculture engaged nearly 50% of the workforce but contributed 15% to GDP In 2010-11, within manufacturing, small firms employed 72% but output was only … Read more
Fair and Remunerative Price A fair and remunerative price (FRP) is a price that is fair to both the producer and the consumer. It is a price that allows the producer to make a profit and the consumer to afford the product. The FRP is determined by a number of factors, including the cost of … Read more
Financial Emergency – Emergency Provisions (360) The Financial Emergency provisions of the Indian Constitution are contained in Article 360. These provisions were inserted in the Constitution by the 42nd Amendment in 1976. The provisions enable the President to declare a financial emergency if he is satisfied that a grave financial emergency exists whereby the financial … Read more