Santosh Kumar Gangwar also added that the bill has ensured that there will not be any discrimination between male and female in getting wages.
Poverty alleviation and decrease in wage inequality in the country can be achieved if the country has a well-formulated minimum wage system, the Economic Survey stated.
The report said that a well-designed and effective implementation of minimum wages will help decrease wage inequality.
The wage code bill is one of four codes envisaged by the government which would subsume 44 labour laws with certain amendments to improve the ease of doing business.
The protest was staged on the occasion of International Domestic Workers Day.
The move will help investors and accelerate growth as the proposed legislation would merge 44 labour laws under four categories, wages, social security, industrial safety and welfare.
Though the law mandates minimum wages, workers at one out of three firms are underpaid, says a labour dept report.
The US-based company had drawn flak after reports of contract workers facing tough work conditions and getting low compensation came out.
Under MGNREGA, wage seekers are entitled to receive compensation at the rate of 0.05 per cent of the unpaid wages per day.
Despite 2017-18 being touted as the year with the highest-ever allocation of funds under the Mahatma Gandhi National Rural Employment Guarantee scheme, official data shows otherwise.