Lok Sabha Question No. 4350 (UNSTARRED), answered on 2021-03-22
Subject: Corporate Investment
Ministry: CORPORATE AFFAIRS
Asked by: N.K. Premachandran

## GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS

## LOK SABHA

## UN-STARRED QUESTION NO. 4350 ANSWERED ON MONDAY, MARCH 22, 2021/ CHAITRA 1, 1943 (SAKA)

## CORPORATE INVESTMENT QUESTION

4350:  SHRI N. K. PREMACHANDRAN:

Will the Minister of CORPORATE AFFAIRS

be pleased to state:

कारपोरेट कार्य मंत्री

- (a)  whether  the  Government proposes to make available cheaper labour for promoting corporates and if so, the details thereof;
- (b)  whether the Government proposes to increase the working time of workers from 8 hours and if so, the details thereof;
- (c) whether the Government has amended the labour laws to attract investment from the corporates and if so, the details thereof;
- (d) the details of the action taken and other exemptions granted by the Government for attracting more investment from the corporates; and
- (e) the details of the corporate investments during the last six years?

## ANSWER

(SHRI ANURAG SINGH THAKUR) ( श्री अनुराग व ंह ठाक ु र )

THE MINISTER OF STATE FOR

## FINANCE AND CORPORATE AFFAIRS

वित्त एिं कारपोरेट कार्य मंत्रालर् में राज्य मंत्री

(a)  to  (e):  The  Government  in  the  Ministry  of  Corporate  Affairs  (MCA)  administers  the provisions of Companies Act, 2013, Limited Liability Partnerships ('LLPs') Act, 2008 and Insolvency  and  Bankruptcy  Code  (IBC),  2016.  However,  the  Ministry  of  Labour  and Employment has informed that the Occupational Safety, Health and Working Conditions (OSHW&C)  Code,  2020,  has  provisions  for  safety,  health  and  working  conditions  of workers which include daily and weekly working hours, leave etc. The OSHW&C Code, 2020 has been published on 29 th  September, 2020 and will come into force on the date as notified  by  the  Central  Government.  The  OSHW&C  Code,  2020  and  draft  Rules  framed thereunder  provide  that  no  worker  shall  be  required  or  allowed  to  work,  in  any establishment or class of establishments for more than eight hours in a day or forty eight hours in a week.

Further,  the  Government  has  notified  four  Labour  Codes;  namely,  the  Code  on  Wages, 2019,  the  Industrial  Relations  Code,  2020,  the  Code  on  Social  Security,  2020  and  the Occupational Safety, Health and Working Conditions Code, 2020 by simplifying, amalgamating and rationalizing the relevant provisions of 29 Central Labour Laws.

Codification  of  the  Labour  laws  will  inter-alia  reduce  multiplicity  of  definitions  & authorities, facilitate implementation & use of technology in enforcement of labour laws and bring transparency & accountability in enforcement which would promote setting up of more enterprises. Further, provisions of one registration for an establishment instead of  multiple  registration,  one  licence  and  one  return  in  place  of  multiple  licenses  and returns would reduce rigidity of labour market and facilitate hassle free compliance.

Simultaneously, the codes will harmonize needs of workers and industry and will prove an important milestone for welfare of the workers.

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