 44 existing labour laws are consolidated to do four labour goals. The first was codon wages. Four laws are repealing existing laws. Mino wages act, equal remuneration act and payment of wages act, payment of bonus act. That was passed by parliament without referring to a labour standing committee. Channing a committee or select committee as an instrument for scrutinizing the legislation. But that process was not followed during the period of this bill because government was in a hurry to pass this employer friendly legislation. In the codon wages, the existing rights of the workmen has drastically changed. One I can say regarding the minimum wages as per the previous act, minimum wage act, the state government has the right to appoint state wide minimum wage advisory board and constitute minimum wage committee on each schedule of employment and fix a minimum wage. Now the new law says that recommendation of minimum wage advisory board is not mandatory to the government. Government is fixing a national floor level minimum wage. It says that per day 174 rupees will be the minimum wage applicable to the whole nation. No government should fix a wage below 174. What happens is, the workers and the trade unions were demanding 600 rupees per day as minimum wage. That was the earliest slogan. Now during this national strike in coming on 8th January 2020, trade unions changed their slogan to 21,000 per month as minimum wage. The earlier 18,000 rupees minimum wage was based on the recommendation of 7th pay commission and it was endorsed by 46th Indian Labour Conference. In a particular case came before this Honorable Supreme Court, Supreme Court endorsed that recommendation. It is all gone. Before government had appointed an expert committee to recommend minimum wage, that committee recommended 374 rupees as minimum wage per day. But in this bill that recommendation also ignored and government proposed 174 rupees as minimum wage. It is very unfortunate, nobody in unorganized sector and nobody where the trade unions are very weak, they will not get anything higher than what is depleted in this law. That is one point. This is actually a starvation wage. This 174 is actually starvation which is nothing they can do with this bigger wages. In our country 92 percent of the workforce are working in informal sector. They have no social security scheme, they have no better wage scheme or any other pension scheme like that. And moreover in organized sector also a vast majority of work is going to informal sector. Managements are informalizing the work. In central public sector 52 percent of the total workforce are contract workers or daily wage workers. In organized private sector industries 74 percent of workers are contract workers or casual workers or daily wage workers. So the number of permanent workers in organized sector also is stringy. That heavily affect the trade union movement because the casual workers or contract workers cannot organize a trade union and bargain with the management because they are tumbly appointed or casually appointed. They can be removed at any time. They can be removed by advising the contractor you should not send so and so to the factory or to the work site then their job will be come to an end. So in this situation such workers cannot form a trade union and conduct collective bargaining and weaken in the trade union movement in the country. That lead to huge wealth what I say accumulation in the hands of capitalists. That is what is happening now. The purchasing capacity of the working class, the population is going down that is badly affected our market and our economy is in big slowdown because of the lowest purchasing capacity of the people, farmers and this poor workers are not getting enough wages to purchase the industrial products. Not only the luxury items the fast moving goods are also not selling according to the production it badly affected the industrial area, industrial production rate is going down and total economy is going down it will increase in the coming days. Most of the political parties in opposition are Bushua parties. They have no different opinion with this neoliberal policies. Neoliberal policy is the driving force behind the new enactment. International Congress and other state Bushua parties, regional Bushua parties all are supporting these neoliberal policies. When the bill came to consideration in Dajya Sabha only left was opposing this bill. When it was put for vote, 8 vote was against the law that 8 came from 6 left, one from DMK and one from Samajwadi party. None other opposition parties supported the BJP's initiative this draconian bill. In Lok Sabha unfortunately there was not clear cut voting also. Voice vote it was passed, CPM, CPI members all together it is number 5. They demand voting but in the voice of BJP and NDA members it was ignored and speaker announced that the bill is passed that is what is happened in the Lok Sabha and Dajya Sabha. See this is for the industrial classes. So they welcome this they were demanding long years they were demanding for changes in the labour laws. Labour flexibility is the slogan of capitalist classes worldwide they are demanding that. Worldwide after the collapse of Soviet Union when the socialist bloc was weakened world capitalist put their conditions on working people and systematically they what I say these industries were reorganized. One product for example one car the entire car manufacturing in one place instead of that they are manufacturing a product in different places parts parts parts and assembling in another point only the marketing activities done by the corporate office. So the workforce are disintegrated they are divided they cannot come unitedly the ender workforce cannot come unitedly to fight against their masters. That situation has created by the capitalist classes. It was introduced in India also after 1991 the successive governments were keenly arguing for this policy but the working people workers trade unions ender trade unions resisted it at that point of time all trade unions were united but when BJP came to power the number one trade union as per the verification of the central government is BMS a RSS trade union they withdrawn from the united front and BMS was keeping away from all agitations and strikes so the ender trade union movement is weakened that is utilizing by the government and their bosses their cronies and making these labour laws more favourably or employer friendly so the employer classes and their associations are welcoming these laws. Yes in the industrial relations code that is coming that has been introduced in Lok Sabha it may come to Jaishabha also whether it may be referred to labour standing committee we are not sure in that fixed term employment is legalized earlier it was a notification now it is legalized now any employer can employ new employees as fixed term employee for a tenure of 2 years 4 years 3 years whatever they like for getting gratuity a worker had to complete 5 years term now there is no chance to complete the 5 year term and if a employer willing to retrench that worker even before his full term a notice prior 14 days prior notice is enough he can be thrown out in such a situation this fixed term employees cannot come to a trade union because they will they are afraid of retrenchment at any time so without a trade union they cannot get permanent employment and they cannot achieve anything from their employers so their wages and other benefits will go down further it will badly affect the entire economy they are talking about ease of doing business earlier when Margaret Thatcher was the Prime Minister of Britain she told that doing business is not the business of government that is what repeating by the present minister is also same doing business is not the business of the government so government is handing over all the public sector companies and production activities to private hands that is the neoliberal policy then what happens is the workers who are the wealth creators do not get a reasonable share from the created wealth and they will be compelled to live with the starving wages the end the most majority of the wealth created by these workforce will go to the hands of capitalists so the income inequality will will will further further version or further increase as per the Oxfam report in 2018 in India the total wealth created in that year for 52 percent of the wealth has gone to the hands of the top 1 percent 78 percent has gone to the hands of top 10 percent the 50 percent at the bottom they have where they could not increase a single piece in their income that is what is happening in the India it will further wide may wide the gap between the hamps and the have nodes so the industry cannot survive in this situation earlier government was thinking of exporting their goods if it is not able to sell in the domestic market export was the other arena which is in their mind in the in the globalized world market every everybody can enter that was the thesis what they was advocating but now you can see the trade war between China and US and world our world economy is also in recession world trade is coming down in this situation we cannot increase our export our products should be sold in the domestic market itself but that domestic market is not developing only because of the workers and poor farmers and agricultural workers are not getting you a genuine wage in their hand to purchase the industrial production that will be a disastrous to the future of our country.