Indian real wages fell in 2008-11: ILO Global Wage Report 2012-13.
India’s real wages fell 1% between 2008 and 2011, while labour productivity grew 7.6% in the same period.
China’s real wage growth was 11% in 2008-11, while labour productivity expanded 9%. India’s real wage growth was 1% in 1999-2007, while labour productivity rose by 5%. In 1999-2007, China’s real wage growth was 13.5%, while labour productivity growth was 9%,
The sources of data on wage growth in India are the Annual Survey of Industries by the Central Statistics Office and the real wage index published by the Labour Bureau.
India’s average gross domestic product (GDP) growth rate in 1999-2007 was 6.9% and 7.7% in 2008-11.
Total hourly compensation costs in manufacturing were estimated at $1.36 in China for 2008 and at $1.17 in India for 2007.
The Union government introduced the variable dearness allowance (VDA) concept in 1989 in order to protect the minimum wage against inflation. The appropriate governments are required to increase the minimum rates of wages from time to time by adding VDA, twice a year or annually, taking into account the rise in the consumer price indices for industrial workers.In the central sphere, the minimum rates of wages are revised effective from 1 April and 1 October every year.
Source:
http://www.livemint.com/Politics/5HUnRCHJ2o2BiNUOmFPEzM/India-real-wage-growth-dropped-during-200811-ILO-report.html
No comments:
Post a Comment