India hikes minimum wages as living costs surge
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
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 (CPI) for industrial workers.
After the hike, the unskilled workers in the upper-most band can expect a daily minimum wage of 783 rupees ($9.36), semi-skilled workers a rate of 868 rupees, and highly skilled workers 1,035 rupees.
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.
($1 = 83.6380 Indian rupees)
