India's new labour framework is a historic reform but laws alone can't create jobs and lend the job market dynamism

Contributing sentiments towards policy:

70% : For millions of construction, plantation and domestic workers, universal ESIC coverage and portability of benefits promise a first experience of state-backed security.
59% : The government's hope is that streamlined regulation will encourage firms -- especially small businesses -- to scale up and hire formally.
57% : * Universal social security now extends to gig and platform workers, with aggregators contributing 1-2% of their turnover to welfare funds.
52% : The respective states of India must now pass their own rules and regulations to ensure the four labour codes are fully implemented within their jurisdictions Labour reforms in India, considered one of the 'big' pending reforms, have always been ideologically contested.
51% : In a detailed memorandum to Union labour minister Mansukh Mandaviya, the BMS urged that immediate attention be paid to pension ceilings, welfare cess restoration and regularisation of contract and scheme workers.
48% : * Ease of doing business: predictable taxation, faster dispute resolution and simplified compliance across all regulatory fronts -- not just labour.
37% : India's unemployment challenge arises from a skills mismatch, inadequate infrastructure, rigid land markets and policy uncertainty as much as from labour regulation.

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