Budget 2024: National Minimum Wage Hike Possible Before Elections; Govt Reviews Expert Proposal

Budget 2024: The Indian government is considering a mandatory national minimum wage hike, potentially impacting 500 million workers. The move comes as the current floor wage (Rs 176/day, set in 2017) is seen as inadequate due to rising living costs and inflation. The new wage, if implemented, would be mandatory across states and could arrive before the upcoming April-May general elections. Experts are balancing affordability for employers with the need to address workers' concerns.