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Minimum Wage Could Double in India if Govt Approves New Norms
March 07, 2019
A committee was set up by the government earlier to provide the method for the calculation of the national minimum wage. It has now proposed norms for the same, which if are approved by the center, can raise the minimum wage by more than 100% from the current ₹176 per day to ₹375 per day.
The existing formula for minimum wage calculation is based on the assumption that an average wage earner supports 3 consumption units i.e. three individuals. However, the new formula takes into account new data which shows that an average wage earner actually supports 3.6 consumption units.
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