India sets to replace Minimum Wage with Living Wage by 2025

The Global organization approved this reform during its recent meeting in Geneva. Minimum wages have been defined as the minimum amount of remuneration that is needed for an employer to pay wages to an earner who has performed the given work in the required time. There are Almost more than half of the country’s population engaged in the unorganized sector, depending mostly on non-skilled employment sectors. The minimum wage is fixed at Rs 176 per day on an average basis for an individual.

Meanwhile, a living wage is a socially acceptable level of income that provides adequate level of income that provides adequate coverage for necessities such as food, shelter, child services, and healthcare. This living wage is a considerably acceptable minimum standard amount that is efficient for skilled and non-skilled employees to provide to run their survival. The Government is planning to replace the minimum wage with a living wage for the sake of living capabilities.

Read Also : One day to go: India to Auction Offshore Mineral Blocks

The first draft of the Wage Code was presented in Parliament on August 10, 2017, and the revised Code was passed in 2019. On January 17, 2018, the Centre constituted an Expert Committee under the Chairmanship of Dr. Anoop Sathpathy, who concluded an expert on wages from the ILO’s New Delhi office, submitting its detailed scientific report in 2019.

Read Also : Defence Partnership Days: 28-29 November 2024, Read about it