Economy
Job creation will drive next phase of reforms
On the 25th anniversary of India's economic reforms, a general consensus seems to have emerged within the country and without that the next phase reforms must address what has so far eluded agreement among the principal stakeholders: land and labour. Make in India will not happen if these two main factors of production remain entangled in political one-upmanship.
 
The government has made some overtures in the domain of land reforms, but the issues surrounding it have not yet fully crystallized. Unless there is clarity and consensus around land reforms, including land acquisition for implementing government's industrialization and infrastructure development projects, the vision of converting India into a global manufacturing hub will remain unrealized. It is essential to pursue efforts towards a comprehensive land reforms policy relentlessly to bring the matter to a satisfactory conclusion.
 
In the field of labour, the exercise for rationalisation and consolidation of labour laws undertaken by the government in the last two years has suddenly taken a breather. Despite earlier attempts to push the agenda forward, the feeling that the main stakeholders were not taken fully on board has provoked angry reactions among the major trade unions, which have threatened a nationwide strike in September. Recognizing the possible implications of unilateral action, the Prime Minister has reportedly decided to proceed more cautiously in future by taking the workers' representatives into confidence.
 
Industry lobby FICCI had set up a special tripartite group to consult the stakeholders and make suitable recommendations for the government's consideration. As convener of the special group, I held extensive consultations and submitted my report making a host of recommendations. Among other things, I advocated gradualism and proposed an incremental approach to labour law reforms in place of the wholesale reforms that were being attempted.
 
There really is no alternative to dialogue, compromise and consensus in the realm of social re-engineering. The efforts may appear tardy and frustrating at times, but sustainable results can be achieved only if we are able to hone the strategy of tactical retreat with a view to eventually finding the winning formula that will be acceptable to all.
 
The rolling back of government's publicly announced EPF policies earlier this year is a case in point. The massive street protests in Paris in April and May 2016 against the French government's labour reforms that were perceived as pro-capitalist portend social unrest that may become intractable if such sensitive matters are not handled with understanding and empathy.
 
The fact that recent amendments to the Child Labour (Prohibition & Regulation) Act encountered widespread criticism from academia, social activists, international organizations like Unicef and others exposes the absence of broad-based dialogue and consensus building that is the cornerstone of progressive and sustainable labour reforms architecture.
 
Despite all the wishful rhetoric over the last two years of the present government, it is now common knowledge that enough jobs -- especially decent quality jobs -- are not getting created in the economy, particularly in the organized manufacturing sector. The government would do well to ensure that the frustrations of youth poised to enter the job market are effectively contained. Towards this end, the recent announcement about massive injection of funds for skilling and re-skilling potential job seekers is most opportune.
 
The concerned department and agencies of the government must quickly respond by setting up capacity and infrastructure to absorb the funds and put them to best advantage. The youth are impatient and care must be taken to ensure that the burning embers are not allowed to be stoked by "indosceptics" who have a problem for every solution.
 
Clearly, job creation is the single most important direction to follow in the next phase of reforms. If adequate numbers of jobs are available in the marketplace, the resistance to labour reforms on the part of the traditional trade union movement will surely mellow.
 
Meanwhile, the government should re-establish confidence and trust among employers' and workers' representatives by organizing impartial and meaningful tripartite consultations on labour reform proposals that are doable. There is no point in biting off more than you can chew. The priorities and pace of reforms must be carefully calibrated so that the achievements can endure in the long run.
 
The government has three more years to go in its first term. There is sufficient time to readjust the trajectory so that results start showing before it must inevitably return to the hustings. Alarm bells are not ringing just yet, but a gentle reminder is not out of order.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Trump makes 3 spelling mistakes in 21-word tweet, trolled
US Republican presidential candidate Donald Trump was left embarrassed after making three spelling mistakes in one 21-word tweet attacking Hillary Clinton, the media reported on Sunday.
 
In a tweet criticising his Democratic rival Hillary Clinton, Trump wrote: "Hillary Clinton should not be given national security briefings in that she is a lose cannon with extraordinarily bad judgement & insticts." 
 
Trump's tweet echoed a statement made by Clinton in May, when she called him an "unqualified loose cannon", the Independent cited CBS News report.
 
However, Twitter users were quick to point out the three spelling mistakes in his short tweet: "lose" instead of "loose", "insticts" instead of "instincts", and "judgement" instead of the correct US spelling of the word, "judgment".
 
"There is no scenario to ever exist where you have not been the loosest cannon in the room," the Independent quoted well-known model Christine Teigen as saying in a tweet.
 
This is not the first time Trump has misspelled words or made typos on the social network.
 
"Every poll said I won the debate last night. Great honer!" he wrote in February, in a tweet that has since been deleted after people pointed out the correct American spelling was "honor".
 
He also once spelled the word "choker" in two different ways within the same tweet, also in February: "Lightweight Marco Rubio was working hard last night. The problem is, he is a choker, and one a choker, always a hocker! Mr. Meltdown."
 
And at a rally in Knoxville, Tennessee last November, the poster on his podium had misspelled the state, using only one "s".
 
Former Republican President George W. Bush was also known for his gaffes and verbal slip-ups, sometimes known as "bushisms", the Independent reported.
 
According to Slate, in 1999 Bush said, "The important question is, how many hands have I shaked?"
 
And in 2000, he said in Florence, South Carolina: "Rarely is the question asked: Is our children learning?"
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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'Rogue pilot may have crashed MH370'
A leading air crash expert on Monday said the missing Malaysia Airlines fight MH370 was likely to have been in controlled flight as it hit the water, giving life to the theory that it was brought down by a rogue pilot or hijacker.
 
Air crash expert Larry Vance told Australia's Nine Network that there was no other way to explain why the flaperon, found off the coast of Madagascar, was "extended" meaning it would have been in controlled flight as it hit the water.
 
Vance said the only way to extend the flaperon, something which happens when a plane is attempting a landing, was for the pilot to engage a switch, something which is unlikely to have occurred during an sudden disaster, Xinhua news agency reported.
 
"You cannot get the flaperon to extend any other way than if somebody extended it," Vance in an interview aired on Nine Network.
 
"Somebody would have to select it (in the cockpit)."
 
Vance said, from photos released of the flaperon, there was evidence to show the aerocraft hit the water at a controlled speed, pointing to it being a "human engineered event".
 
"Somebody was flying the aeroplane into the water... There is no other alternate theory that you can follow of all the potentials that might have happened. There's no other theory that fits," he said.
 
"The force of the water is really the only thing that could make that jagged edge that we see (on the flaperon). It wasn't broken off. If it was broken off, it would be a clean break."
 
Meanwhile, Australian Transport Safety Bureau (ATSB) crash investigator Peter Foley said there was a possibility that someone was in control of the plane as it went down.
 
"There is a possibility there was someone in control at the end and we're actively looking for evidence to support that," he said on Sunday night.
 
He admitted that if it was brought down by a "rogue" pilot, the wreckage could be outside the parameters of the Australian-led 120,000 sq.km search zone. The search for the Boeing 777 is scheduled to end in the coming weeks, considering less than 10,000 sq.km is yet to be searched.
 
"If you guided the plane or indeed control-ditched the plane, it has an extended range, potentially," Foley said.
 
The MH370 was a scheduled passenger flight bound for Beijing from Kuala Lumpur that went missing on March 8, 2014. There were 239 people on board.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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