Wage imbalance 

Wage imbalance

Last week, the Union cabinet approved the revised version of the Code on the Wages Bill. The bill envisages a national minimum wage, linked to factors such as skill level and geographical region. This national wage would effectively serve as a floor wage, with states having the option of setting higher wages. Minimum wage legislation forms a vital component of the architecture for social protection. A well designed minimum wage system, as articulated in the Economic Survey 2018-19, can help “reduce inequalities in income, bridge gender gaps in wages and alleviate poverty”. It could also help address the imbalance of power between workers and employers

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