Wages Hike News 2024: The Central Government can increase minimum wages for employees in India in the upcoming month of the year 2024. If it is done, then the salary of the employees will automatically increase. Currently minimum wage for employees his decided to 176 rupees per day which is a very low cost for living in any City or village in India. Due to inflation and increments in expenditures, it is important to provide a good salary to the Employees (Wages Hike News 2024) to live a better life.
The central government has appointed A committee to prepare a report on minimum wages in India in 2021. The Wages Hike News 2024 report is undergoing the supervision of SP Mukherjee. The deadline to submit a report to the government is April 2024. so there are very high increases in minimum wages for employees in this report as the government has not increased minimum wages for the last 7 years. However, the minimum wages for the year 2024 for employees will disclosed after submitting the report but we can expect a good hike in the floor wages for employees in India.
Wages Hike News 2024: Floor Wages Increased in 2017
The central government increased minimum wages for employees in 2017 after that they have not accepted any report or suggestion to increase the minimum wages. After 2017, States and companies have the right to decide salary according to the minimum wage which is 176 per day. However, most of the companies and most of the states are already providing improvised floor wages to the Employees but they are also not bound if they provide minimum wages.
A 100% Hike in floor wages was rejected
Wages Hike News 2024: Earlier SD Mukherjee’s committee for minimum wages government also appointed the Anup satpathy committee in 2019 to present a report on floor wages. The comedy has proposed to increase minimum wages from 176 rupees per day to 375 rupees per day. It was decided by following multiple factors for the good livelihood of employees, but the central government rejected provisions of this report and stated that the government could not increase the 100% hike in floor wages.
As employees were receiving 176 Rs and the provision of 375 rs is more than the 100% of 176 it is not appropriate to increase such wages. And till 2019, floor wages are still pending. Since it is going to complete 7 years of revision in floor wages from 2017 there is a high chance to increase it in 2024 after the submission of SP Mukherjee’s report.
Over 50 Crore Employees will get benefits
According to the Wages Hike News 2024 reports, more than 50 crore citizens in India are doing jobs and getting salaries from the government, private companies, or employers. But more than 90% of employees are engaged with unorganized sectors. So their employees are not quite bound to pay a good wage per day. Most of the unorganized sectors are paying less than the minimum wage of 176 rs per day and employees are not able to fulfill their basic needs from this amount. Inflation and increments in the cost of living in India are increasing day to day, it is the duty of government authorities to pay good and justifiable pay to employees.
States are Paying Less than 176 Rs per day
While the central government is paying minimum wages according to the report of 2017 some states in India are still paying less than floor wages of 176. It is not good but states are not bound to pay according to the Floor Wages Report 2017. States are using these Wages Hike News 2024 reports as recommendations only. However, the government can increase minimum wages for specific geographical locations according to the need.
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Election 2024 can impact on Hike on floor wages
Election 2024 is very soon and the election commission will declare election dates on 5 March. Due to the election season, the government is expected to accept the SP Mukherjee report on floor wage 2024. After that minimum wages will be decided according to the inflation rates in India in 2024 and will benefit crores of unorganised workers.