Left Menu
Development News Edition

Realtors welcome Centre’s decision to use Rs 31,000 cr BOCW fund for labourers' welfare

PTI | New Delhi | Updated: 26-03-2020 20:23 IST | Created: 26-03-2020 20:23 IST
Realtors welcome Centre’s decision to use Rs 31,000 cr BOCW fund for labourers' welfare

Realtors welcomed the Centre's decision to direct States to use Rs 31,000 crore cess collected under the construction worker welfare fund for welfare of labourers but demanded similar measures for unregistered workers. Finance Minister Nirmala Sitharaman on Thursday said she will direct state governments to make use of Rs 31,000 crore construction worker welfare funds. The Centre has given orders to state governments to use 'Building and Construction Workers Welfare Fund' (BOCW) to provide relief to Construction Workers.

There are around 3.5 crore registered workers in the Fund. "We thank the government for taking cognizance of our recommendation and advising the states to use BOCW cess funds collected by the labour welfare boards in providing the immediate relief to the construction workers," CREDAI President Satish Magar said. The government must consider providing similar relief to the unregistered construction workers, he added. "Nearly 80 per cent of construction workers fall under the unorganised sector. Worker's welfare fund of Rs 31,000 crore to be utilised exclusively for construction workers would benefit 3.5 crore workers directly. It will help to mitigate epidemic loss," Naredco President Niranjan Hiranandani tweeted.

Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and PropTiger.com said this will bring great relief for people facing the biggest challenge because of the lockdown. "The step to support the construction workers with Rs 31,000 crore workers' welfare fund is most thoughtful. This is laudable as it will provide the much- needed relief to 3.5 crore construction workers country wide, who are mostly dependent on daily wages," said J C Sharma, Vice Chairman and managing director, Sobha Ltd. Pradeep Aggarwala, founder and chairman, Signature Global hailed the decision and said the workers are one of the most vital elements in the construction industry.

Ekta World Chairman Ashok Mohanani said the release of 'Buildings and other Construction Workers' Fund will assist workers in survival. Ajnara Chairman and Managing Director Ashok Gupta said lives of construction workers will be impacted due to lockdown. "It is important that the corpus of building and construction welfare funds is effectively utilised at this crucial juncture." Vikas Bhasin, managing director of Saya Homes, termed it as the right step to provide relief to workers.

Recently, Labour Minister Santosh Gangwar had also asked all state chief ministers to provide financial aid to over 3.5 crore construction workers from Rs 52,000-crore construction cess available with them amid the Covid-19 outbreak. The cess has been levied and is being collected at 1 per cent of the cost of construction as notified by the central government in its official gazette.

The BOCW Welfare Cess, 1996, provides for levy and collection of cess at such rate not exceeding 2 per cent, but not less than 1 per cent of the cost of construction as the central government may notify..


TRENDING

OPINION / BLOG / INTERVIEW

South Africa's COVID-19 response: Surprising outcomes or just poor data management?

South Africa has been committed to improving its health information system and shows that a robust digital has considerable scope to improve healthcare for the entire population. But the COVID-19 pandemic has highlighted that significant ga...

Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...

Videos

Latest News

Trump tax revelations spark outrage among some, but supporters defend president

A report that Donald Trump paid little or no federal income tax in recent years sparked broad outrage on Monday, from rich Democrats to teachers and coffee shop workers taking to social media to claim they had paid more taxes than the U.S. ...

Zohra Sehgal: Google doodle on an actress who breathed life through dance & cinema

Google today dedicates an artistic doodle to Zohra Segal or Zohra Sehgal, an Indian actress, dancer, and choreographer. She became one of Indias first female actors to truly achieve recognition on the international stage.Zohra Mumtaz Sehgal...

Horse racing-Derby winner Authentic to start from ninth post in Preakness

Kentucky Derby winner Authentic drew the ninth post on Monday for Saturdays 11-horse Preakness Stakes in Baltimore where a Triple Crown campaign unlike any other due to the COVID-19 outbreak comes to a close. The Bob Baffert-trained colt wa...

U.S. EPA chief pans California effort to mandate zero emission vehicles in 2035

The head of the Environmental Protection Agency EPA on Monday questioned California Governor Gavin Newsoms plan to require all new passenger vehicle sales in 2035 be zero-emission models, according to a letter seen by Reuters. EPA Administr...

Give Feedback