International Labour Day, commonly called "May Day," is observed globally to support and foster constructive communication between social partners. Over 50 crore people are employed in India's organised and unorganised sectors combined. The first Labour Day was observed in India on May 1, 1923, in Madras. The Labour Kisan Party of Hindustan started it. Known by different names in different Indian states, this day is observed as Kamgar Din (Hindi), Thozhilaali Dinam (Malayalam), Kamgar Divas (Marathi), Uzhaipalar Dhinam (Tamil), Karmikara Dinacharane (Kannada), and Shromik Dibosh (Bengali).
Labour Day is observed to honour and commemorate the contributions and accomplishments of the working class. It is a day to honour the hard work, commitment, and devotion of labourers everywhere who have significantly improved their respective societies.
Additionally, the day falls on Maharashtra Day. In observance of the state's formation on May 1, 1960, Maharashtra celebrates Maharashtra Day on May 1 of each year. Another name for it is Maharashtra Diwas.
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International Labour Day 2024: What's Open, What's Closed
Equity markets will be closed on Wednesday in observance of Maharashtra Day. As a result, all segments, including the equity, derivative, and SLB segments, will be closed. Furthermore, according to the Reserve Bank of India's (RBI) holiday list, banks in some states will be closed on May 1 to commemorate Maharashtra Day and May Day.
Government buildings and schools will be closed in Maharashtra on May 1. However, in other states, it is essential to check what the school and office have decided for the day.
It is a national public holiday that celebrates the labour movements of communist and socialist political parties. The 'Antarrashtriya Shramik Diwas' is also known as Kamgar Din in Hindi, Kamgar Divas in Marathi, and Uzhaipalar Dinam in Tamil.