Back to Career News

Minimum Wage Could Double in India if Govt Approves New Norms

March 07, 2019

Minimum Wage Could Double in India if Govt Approves New Norms
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. 

Image Source

Recommended for you ...

Nirmala Sitharaman Continues as Finance Minister in Modi's Third Term
Nirmala Sitharaman Continues as Finance Minister in Modi's Third Term

June 11, 2024

BFSI Industry Shares Expectations from New Government
BFSI Industry Shares Expectations from New Government

June 11, 2024

RBI Keeps Repo Rate Unchanged for Eighth Time in a Row
RBI Keeps Repo Rate Unchanged for Eighth Time in a Row

June 11, 2024

Chat on WhatsApp