Jobs must be protected even if it means salary cut: Pranab

"Jobs must be protected even if it means some reduction in compensation,"said Affairs Pranab Mukherjee on Friday in Delhi. It is clear signal from the minister over the impact of the global slowdown of Indian economy.

The world has been reeling under the pressure of global financial crisis and India is not untouched. The economy has been one of the worse hit alike other major economies of the world. The global financial crisis has been there and companies have been on cost cut measures.

The export sector is one of the worse hit sectors in India and the job cuts are expected more if the situation goes further downwards. Addressing national labour conference, the minister cleared the impact of the economic slowdown on India economy.