80% firms wary of Haryana s job quota law, say it will negatively impact future ops
The state s move would impact nearly 1.5 lakh current jobs in IT-ITES sector, and given the industry s high attrition rate, could have a severe implication in 1-2 years, Nasscom said in a survey
PTI | March 16, 2021 | Updated 10:09 IST
Nearly 80 per cent of the companies surveyed by Nasscom recently stated that Haryana s job reservation law would negatively impact their future business operations and investments plans. The state s move would impact nearly 1.5 lakh current jobs in IT-ITES sector, and given the industry s high attrition rate, could have a severe implication in 1-2 years, the survey by Nasscom said.
The apex industry body recently conducted the survey to assess the impact of the New Haryana State Employment of Local Candidates Act, 2020, which stipulates 75 per cent reservation for locals in private sector jobs, with a monthly salary of up to Rs 50,000.
Synopsis
The law will affect both office space and residential property in the Gurgaon market, which had started showing signs of recovery after being hit by the Covid-19 pandemic, according to real estate developers and international property consultants.
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The Haryana government’s law reserving 75% of private sector jobs with monthly pay of up to Rs 50,000 for people of the state will impact Gurgaon’s real estate sector and accelerate the trend of companies shifting to Noida due to high costs, industry experts said.
The law will affect both office space and residential property in the Gurgaon market, which had started showing signs of recovery after being hit by the Covid-19 pandemic, according to real estate developers and international property consultants.
FICCI said it believes that this move is against the spirit of the Constitution that gives the citizens of India the freedom to work anywhere in the country.