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 ...

Indian Tech Startups Raise $1.6 Billion in Q1 2024, Retail and Fintech Lead Growth
Indian Tech Startups Raise $1.6 Billion in Q1 2024, Retail and Fintech Lead Growth

March 28, 2024

Fintech Experts Advocate for Cohesive Regulatory Framework Amid Rapid Digitalisation of Finance
Fintech Experts Advocate for Cohesive Regulatory Framework Amid Rapid Digitalisation of Finance

March 27, 2024

Indian Payment Aggregators Rush to Obtain International Payment Licences
Indian Payment Aggregators Rush to Obtain International Payment Licences

March 27, 2024

Chat on WhatsApp