The Economic Survey for 2015-16 pleads for speedy labour reforms to curb contract labour and create “good jobs”.
It says that companies prefer to hire workers on contract basis.
The Survey which was tabled this week in Parliament refers to a recent study to point out that medium-sized formal sector manufacturing firms reported labour regulations to be a significant barrier to growth.
The Survey also notes that “by most measures, informal sector jobs are much worse than formal sector ones —wages are, on average, more than 20 times higher in the formal sector.
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