Skip to main content

Minimum Daily Wage Raised to Rs 160

Govt raises threshold from Rs.137 on the basi of average hike in CPI for industrial workers
The government has increased minimum wage across the country to Rs.137 Rs.160 a day from with effect from this month. It has raised the threshold after two years on the basis of average increase in the consumer price index for industrial workers during this period.
Labour minister Bandaru Dattatreya on Tuesday said he has written to all chief ministers and lieutenant governors to take necessary steps to fix minimum rates of wages in respect of all scheduled employments in states and union territories not below the revised level. “While reviewing the movement of CPI-IW (consumer price index for industrial workers) during s April 2014 to March 2015 over the period April 2012 to March 2013, it was observed that the average CPI IW has risen from 215.17 to 250.83. Ac cordingly , the NFLMW (national floor level minimum wage) has been re vised upwards from existing Rs.160 Rs.137 to per day with effect from July 1, 2015,“ Dattatreya said. In or der to have a uniform wage structure and to reduce the disparity in minimum wages across the country , NFLMW is fixed on the basis of the CPI-IW . The NFLMW was last revised from Rs.115 Rs.137 per day in July 2013.to NFLMW is a non-statutory measure and after every revision states are persuaded to fix minimum wages such that in none of the scheduled employments the minimum wage is ess than NFLMW . The list of scheduled employment under the Minimum Wage Act, 1948, differs from state to state and covers a wide spectrum of employment creating sectors including industry , construction, agriculture and services sector.
In a separate letter, Dattatreya urged all chief ministers and LGs to ensure compliance regarding social security coverage of outsourced staff working in the government departments, public sector undertakings, state cooperatives and other bodies. “The National Human Rights Commission incidentally is also monitoring the implementation as the social security is considered as a human right of an individual,“ the minister said in his letter written on Tuesday .
He further said, “It has been observed that various departments, PSUs, state cooperatives and other state-run bodies are increasingly employing a large number of staff on outsourcing basis.“
The Economic Times, New Delhi, 8th July 2015

Comments

Popular posts from this blog

Household debt up, but India still lags emerging-market economies: RBI

  Although household debt in India is rising, driven by increased borrowing from the financial sector, it remains lower than in other emerging-market economies (EMEs), the Reserve Bank of India (RBI) said in its Financial Stability Report. It added that non-housing retail loans, largely taken for consumption, accounted for 55 per cent of total household debt.As of December 2024, India’s household debt-to-gross domestic product ratio stood at 41.9 per cent. “...Non-housing retail loans, which are mostly used for consumption purposes, formed 54.9 per cent of total household debt as of March 2025 and 25.7 per cent of disposable income as of March 2024. Moreover, the share of these loans has been growing consistently over the years, and their growth has outpaced that of both housing loans and agriculture and business loans,” the RBI said in its report.Housing loans, by contrast, made up 29 per cent of household debt, and their growth has remained steady. However, disaggregated data sho...

External spillovers likely to hit India's financial system: RBI report

  While India’s growth remains insulated from global headwinds mainly due to buoyant domestic demand, the domestic financial system could, however, be impacted by external spillovers, the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report published on Monday.Furthermore, the rising global trade disputes and intensifying geopolitical hostilities could negatively impact the domestic growth outlook and reduce the demand for bank credit, which has decelerated sharply. “Moreover, it could also lead to increased risk aversion among investors and further corrections in domestic equity markets, which despite the recent correction, remain at the high end of their historical range,” the report said.It noted that there is some build-up of stress, primarily in financial markets, on account of global spillovers, which is reflected in the marginal rise in the financial system stress indicator, an indicator of the stress level in the financial system, compared to its p...

Healthy balance sheets augur well for economy: RBI Governor Sanjay Malhotra

  Large tariffs by the United States administration and elevated geopolitical risk have increased near-term global financial stability risks, and along with weather events pose downside risks to domestic growth, Reserve Bank of India(RBI) Governor Sanjay Malhotra said in the foreword to the Financial Stability Report released today.Noting that domestic growth momentum is buoyed by strong domestic drivers, sound macroeconomic fundamentals and prudent policies, Malhotra said: “External spillovers and weather-related events could pose downside risks to growth.”On the other hand, he said the outlook for inflation is benign, and there is greater confidence in the durable alignment of inflation with the Reserve Bank’s target.Commenting that the structural shifts reshaping the global economy are making policy intervention challenging, the Governor emphasised the need for central banks and financial sector regulators to remain vigilant, prudent and agile in safeguarding their economies and...