The government increases wage rates in a happy development for all on September 27, 2024. Other than increasing the wage rates, the government proposes to raise VDA to help employees meet the constantly rising cost of living. The new minimum wages are to be effective from October 1, 2024.
As the government increases wage rates, it aids in promoting support to low-wage workers. The last wage hike was in April 2024. Wages into minimum wages are differentiated according to levels of skills they entail: unskilled, semi-skilled, skilled, highly skilled; and areas A, B, and C geographically.
Government increases wage rates for all classes
Unskilled workers of Area ‘A’ will get ₹783 per day which amounts to ₹20,358 a month. The semi-skilled ones will get ₹868 per day that is ₹22,568 a month. Skilled workers including clerical and watch & ward staff without arms will get ₹954 per day which amounts to ₹24,804 monthly. Highly skilled workers along with arms and watch & ward staff will now get ₹1,035 per day or ₹26,910 a month.
This update is helpful for the employees of such sectors and industries as construction, housekeeping, agriculture, mining, loading, unloading, and watch & ward services. VDA is updated every six months with an average rise in the Consumer Price Index for Industrial Workers, which is revised and set every year on 1st October and 1st April.
How the new development will be helpful?
The government increases wage rates to ease pressure on the wallet and safeguard young labourers from inflationary factors. The Labour Ministry confirmed this by stating that those wage hikes were in line with the price and economic factors of inflation.
This wage increase benefits the labour forces in urban and rural areas bounded by every sector. It manifests as the commitment of the government to the welfare of labour and to enhance, in general, the economic status of workers. It focuses on ensuring that workers can better cope with an increasing cost of living without losing financial stability.
Also, see: Minimum salary package at IIT Bombay falls to Rs 4 lakh per annum – Is it alarming?
