Wages in Indian Economy

Relevance: 

Labour market in India preys on excess availability of workers, therefore workers are not able to demand fair minimum wages and continue to live a precarious life. Further, labour laws fall in the concurrent list and are extremely complicated. An effective minimum wage policy that targets the vulnerable bottom rung of wage earners can help in driving up aggregate demand and building and strengthening the middle class, and thus spur a phase of sustainable and inclusive growth. Minimum wages can promote social justice without any major negative implication for employment if wages are set at an adequate level.

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