In
India, there is too much pressure emanating from the labour legislations which
has led to the complicated Labour regulation system. The India Legislations are
viewed as a major factor that negatively affects the economic growth of India. This
paper thoroughly examined the interlinkages between labour legislation and
economic development for India and also the Indian States. For taking into
cognizance of the regulations governing the employment and labour markets in
India as well as the effectiveness of the labour legislations, the Labour
Legislation Environment Index (LLEI) has been viewed in this paper. In order to
evaluate the economic development of the Indian States especially in respect to
labour regulations and legislations, what was applied is referred to as the
Economic Freedom Index (EFI). The outcomes of this evaluation attest to the
availability of the optimistic connection between economic development and the
labour legislation environment. Also, the perspective of entrepreneurs has been
accounted in this research through the regulation of Business and Labour Index
(RBLI) which entails the extent of freedom benefitted by the entrepreneurs in
carrying out their businesses. The Pearson’s Correlation Coefficient value of
0.86 between the Regulation of Business and Labour Index (RBLI) and the Labour
Legislation Environment Index (LLEI) values attests that all the states where
labour regulatory system is effective, the entrepreneurs index referred to as
the Country Economic Prudence and Performance Indicator (CEPPI) has been aggregated
for India entailing the economic position of the country. At the ending aspect
of the analysis, a Composite Index of Development known as the (CID) has been aggregated
for most Indian States which also capture other significant connection between
the Economic Freedom Index (EFI) and the Composite Index of Development (CID)
of the Indian States and has also been further evaluated with the major issue
of discovering if the states possessing general development are really well off
or not in respect of the economic liberty. Gujarat, Tamil Nadu, Himachal
Pradesh and Haryana are the states that applied a maximum value of Composite
Index Development (CID) and also a maximum Economic Freedom Index (EFI) value
Keywords: Economic Development, Labour
Legislation, Labour Legislation Environment Index, Economic Freedom, Regulation
of Business and Labour Index
Tochukwu Benedict, E (2019). Evaluating the Relationship between Economic Development and Labour Legislations (India as a Case Study). Afribary.com: Retrieved March 04, 2021, from https://afribary.com/works/evaluating-the-relationship-between-economic-development-and-labour-legislations-india-as-a-case-study
Ezeifekwuaba, Tochukwu Benedict. "Evaluating the Relationship between Economic Development and Labour Legislations (India as a Case Study)" Afribary.com. Afribary.com, 13 Sep. 2019, https://afribary.com/works/evaluating-the-relationship-between-economic-development-and-labour-legislations-india-as-a-case-study . Accessed 04 Mar. 2021.
Ezeifekwuaba, Tochukwu Benedict. "Evaluating the Relationship between Economic Development and Labour Legislations (India as a Case Study)". Afribary.com, Afribary.com, 13 Sep. 2019. Web. 04 Mar. 2021. < https://afribary.com/works/evaluating-the-relationship-between-economic-development-and-labour-legislations-india-as-a-case-study >.
Ezeifekwuaba, Tochukwu Benedict. "Evaluating the Relationship between Economic Development and Labour Legislations (India as a Case Study)" Afribary.com (2019). Accessed March 04, 2021. https://afribary.com/works/evaluating-the-relationship-between-economic-development-and-labour-legislations-india-as-a-case-study