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Economic Survey calls for revamping Minimum Wage System

The report said that a well-designed and effective implementation of minimum wages will help decrease wage inequality.

Published: 04th July 2019 12:52 PM  |   Last Updated: 04th July 2019 12:52 PM   |  A+A-

Migrant Labourers

For representational purposes (File Photo | EPS)

By UNI

NEW DELHI: Economic Survey for fiscal 2018-19 was presented in the Lok Sabha on Thursday by Finance Minister Nirmala Sitharaman. The Economic Survey has called for redesigning of a Minimum Wage System in India for achieving inclusive growth.

A well-designed and effective implementation of minimum wages will help decrease wage inequality, it said. It also said that the effective implementation of minimum wages will strengthen the trend towards decreasing wage inequality, especially at lower levels.

"This becomes all the more significant as women constitute the majority of the bottom rungs of the wage distribution," the report said. It also said that the rationalisation of minimum wages as proposed under the Code on Wages Bill needs to be supported.

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