Asia Insurance Post
  • Home
  • Articles
  • Blog
  • Data
  • Facts
  • Editorial
  • Interviews
Select Page

Govt hikes minimum wages fron Oct 1 as living costs surge

by AIP Online Bureau | Sep 26, 2024 | Eco/Invest/Demography, Indian News, Policy, Workplace/Employee Benefits | 0 comments

Earlier this week, thousands of workers held protests across the country, seeking an increase in wages and demanding the repeal of four labour codes which they say favour multinational corporations.

New Delhi: India is hiking minimum wages marginally for workers employed in informal sectors including construction, mining and agriculture, from October 1, a government statement said on Thursday.

“This adjustment is aimed at helping workers cope with the rising cost of living,” the statement said, referring to the 2.40-point rise in consumer price index, opens new tab (CPI) for industrial workers.

After the hike, the unskilled workers in the upper-most band can expect a daily minimum wage of Rs 783 rupees ($9.36), semi-skilled workers a rate of Rs 868 rupees, and highly skilled workers Rs 1,035 .

The wages are revised twice a year according to inflation, based on the six-month average rise in CPI for industrial workers.

Earlier this week, thousands of workers held protests across the country, seeking an increase in wages and demanding the repeal of four labour codes which they say favour multinational corporations.

Submit a Comment Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Asia Index launches BSE Insurance Index
  • IRDAI board meet on July 14, likely to approve new licenses
  • Extreme Weather: Euro Zone could lose 5% of GDP, says ECB
  • UP govt sets July 31 deadline for kharif crop insurance; farmers must report damage within 72 hours
  • Supervision of National Health Claims Exchange may be shifted from NHA to MoF to curb rising healthcare costs, source says

Categories

  • Articles
  • Banking & Bancassurance
  • Blog
  • Breaking News!
  • Briefs
  • Climate, Environment, Renewable Energy
  • Data
  • Disaster & Management
  • Eco/Invest/Demography
  • Editorial
  • Events
  • Facts
  • Features
  • Health
  • Indian News
  • Intermediaries
  • International News
  • Interviews
  • Life
  • Main Menu
  • Non-Life
  • Pandemic
  • Pension & Social Security
  • Policy
  • Regulation
  • Reinsurance
  • Risk Management
  • Simple
  • Technology
  • Trends, Facts
  • Uncategorized
  • Wealth Management/ Philanthropy
  • Workplace/Employee Benefits
  • Home
  • Articles
  • Blog
  • Data
  • Facts
  • Editorial
  • Interviews
  • Eco/Invest/Demography
  • Indian News
  • International News
  • Health
  • Non-Life
  • Pandemic
  • Technology
  • Risk Management
  • Reinsurance
  • Banking & Bancassurance
  • Wealth Management/ Philanthropy