top of page

Role Of Economic Principles In Labour Laws: An Analytical Study Of The Labour Codes, 2020

Writer's picture: NLR JournalNLR Journal

Saharshrarchi Uma Pandey & Ritansha Singhal, Maharashtra National Law University.



Abstract


“India redrafted its economic policy in the year 1991 to usher in a new era of deregulation, liberalization and global integration. Since then, significant policy initiatives have been introduced to provide stimulus for accelerated growth, Industrial efficiency and international competitiveness. One of the most critical pillar to achieve the said objective is the Labour Class of an Economic Unit that bolsters the revenue and profit margins. For the same, India houses the most holistic labour laws that ensures that the principle of redistribution of wealth is operational and functioning and not swayed by the capitalist and utilitarian factors of production. However, the economic and mercantile construction of such labour and labour related laws is the far cry of the contemporary age so to ensure that the market maintains its equilibrium and allots the maximum of the scarce wealth and resources to the relevant stakeholders. However, such is counter-balanced by the social legislations that operates beyond the market forces. Hence, the competing and conflicting forces of the Labour Social Legislations with its Law and Economic Analysis of the Economic and Financial Business comparability is highlighted through the research herein.”


Keywords: Law and Economics, Labour Law, Social Legislation, Market Equilibrium.


 


Comments


Journal Details
Abbreviation: NLR 

ISSN:   2582-8479 (O)

Year of Starting: 2020

Place: New Delhi, India

Accessibility: Open Access

Peer Reviewer: Double Blind

Licensing:

 

​All research articles published in NLR and are fully open access. i.e. immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution, and reproduction in any medium provided the original work is properly cited.

1200px-Open_Access_logo_PLoS_transparent.svg.png
NYAAYSHASTRA_Law_Review-removebg-preview.png
Journal Archives

 

 

Disclaimer: Any opinions and views expressed in or through the above content/ publications are those of the designated authors/ writers and do not represent the views of "Nyaayshastra Law Review." or its members. The designations employed in this publication and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the NLR. Further, the Journal does not make any warranty as to the correctness or reliability of such content.

© 2020 All Rights Reserved by Nyaayshastra Law Review

Publisher: NLR Journal

Address: JP Nagar, Delhi-110053

bottom of page