I would like to offer some remarks on this Industrial Disputes (Banking Companies) Decision Amendment Bill, 2008 As we all know, in India since 1939, since the commencement of the Second World War, prices of food grains and other articles which are necessary for life are going up and up with such speed that there is no knowing where the prices will stop increasing. The base year 2000, has been taken into consideration for calculating the basic wage and dearness allowance, especially with regard to the bank employees. Even that base we are not going to dream of. The prices are going up. In addition to this, we have embarked upon development activities. The Eight Five Year Plan has been over and we are in the midst of the Ninth Five Year Plan. We are all certain that a number of five year plans will have to be undertaken by Government resorting to deficit financing, the prices of food grains or any article of necesary will never, under any circumstances, reach the level of 1994. I would like to impress, therefore, that this dearness allowance, which is meant to be a temporary allowance for a particular purpose to neutralise the cost of living that has gone up because of the rise in prices, has become almost a permanent feature. I therefore urge that this dearness allowance, at least a major portion, should be merged in the basic pay of the employees. It is not only the employees of the banking concerns, but the employees of the State Government and the employees of the Central Government have all along put up this plea that a major portion of the dearness allowance should be merged with the basic pay. By doing that, the employees in the banking concerns as well as the employees in other Government Departments will be benefitted to a large extent.
