Key Points
India is set to replace its minimum wage system with a living wage by 2025, with the government seeking technical assistance from the International Labour Organization (ILO) to develop a framework for estimating and implementing it, according to reports..
Seeking help from the ILO for capacity building and systemic collection of data, India aims to showcase the positive economic outcomes of implementing living wages...
The living wage is defined by the ILO as "the wage level necessary to afford a decent standard of living for workers and their families, taking into account the country's circumstances and calculated for the work performed during normal hours.".
The shift from minimum wages to living wages is seen as a strategic move to accelerate efforts to lift millions of people out of poverty while ensuring their overall well-being...
India's aim to replace the minimum wage with a living wage by 2025 represents a significant step towards improving the lives of Indian workers..
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India plans to shift from minimum wage to living wage by 2025
25, Mar, 24Living wages – a minimum income necessary for a worker to meet their basic needs, factoring in key social expenditure by an individual such as housing, food, healthcare, education and clothing – were endorsed by the ILO earlier this month. These would be higher than basic minimum wages. “We could go beyond minimum wages in a year,” a senior govt official told ET.
Government to replace minimum wage with living wage by 2025
25, Mar, 24India Business News: India plans to transition to living wages by 2025 with ILO's support, exceeding current minimum wage levels. The Code on Wages aims for a universal wa