Indian Economy News

Code on "Wages Bill" approved by Cabinet

The Code on Wages is one of the four codes that would subsume 44 work laws with specific amendments to improve the ease of doing business and attract investment for impelling development.

The previous Modi government had presented the Wages Code Bill in the Lok Sabha on August 10, 2017. On 18th December 2018, report was submitted, the bill was alluded to the Parliamentary Standing Committee.

The bill, however, lapsed by after the 16th Lok Sabha which was broken down in May.

The bill Provides that the Central Government will fix least wages for specific sectors, including railways and mines, while the states would be allowed to set least wages for other category of employments.

The code likewise accommodates setting up of a national minimum wage. The Central Government can set a minimum wage for different states. The draft law additionally says that the minimum wages permitted by law in every five years.

Earlier in June, Labour service would push for the passage of the bill in the June-July session of Parliament.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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