Government Announces Minimum Wage Increase to Support Workers Amid Rising Costs In a move aimed at helping workers cope with escalating living expenses, the government has announced a minimum wage hike, set to take effect from October 1, 2024. This revision, implemented under the Minimum Wages Act of 1948, is intended to alleviate the financial burden on laborers, especially in light of inflation and increased cost of living.
Revised Minimum Wage Rates According to the new regulations, the minimum wage will go up to ₹1,035 per day. For unskilled laborers in Sector A, the wage is set at ₹783 per day, which translates to approximately ₹20,358 per month. Semi-skilled workers will receive ₹868 per day, amounting to ₹22,568 per month.
Skilled workers and clerical staff will now earn ₹954 per day, or around ₹24,804 per month, while highly skilled workers and armed guards will be paid ₹1,035 per day, equivalent to ₹26,910 per month. These updated wages reflect a 2.40-point rise in the Consumer Price Index (CPI), highlighting the government’s commitment to addressing economic pressures faced by workers.
Ongoing Adjustments and Reviews The minimum wage rates are reviewed and updated twice a year—on April 1 and October 1—based on average changes in the Consumer Price Index over the preceding six months. This ensures that wages keep pace with inflation, providing continued financial stability for workers.
This latest wage hike comes in response to widespread protests from labor groups across the nation, who have been demanding better wages and the repeal of four labor codes they feel benefit multinational corporations over workers. The increase in minimum wages is seen as a critical step in addressing these concerns and improving the standard of living for many workers.
Further Information Detailed information on the new wage rates for various sectors, categories, and regions can be found on the Labour Commission’s official website (clc.gov.in).
With this wage increase, workers can expect some relief from rising costs such as food and rent, offering a more stable financial future while continuing to support the country’s economy.
