MINIMUM AND AVERAGE SALARY IN INDIA
India is one of the most beautiful and dynamically developing countries in the world with enormous economic potential. The state is located in the southern part of Asia, has a large area and a population of over 1.4 billion people. Unfortunately, the vast majority of local people are still below the poverty line.
India has a labor force of up to 500 million people, second only to China. About half of the workers are employed in agriculture and have extremely low incomes, often not exceeding $100 per month. Next, let's find out what salaries in India in 2024.
Minimum salary in India
Since as early as 1948, India has had a Minimum Wage Act that protects the right to decent wages for about half a billion local workers. Under the document, both the central government and individual state/territory authorities have the right to set their own minimum wage. The rates are subject to review at least once every five years.
Important. For non-compliance with the Minimum Wage Act, employers in India face up to 5 years in prison or heavy fines.
The official minimum wage in India depends on the state/territory, economic sector, worker's qualifications, profession and some other factors. Consequently, there is no single minimum wage across the country, and the timeframe for reviewing this figure differs for each region.
India consists of 29 states and 7 territories with their own minimum wage rates. For example, in Delhi from 17,234 rupees per month ($210), in Maharashtra (Mumbai) from 11,272 rupees ($135), in Goa from 10,374 rupees ($125). Overall, the official minimum wage in India in 2024 ranges from Rs. 5,280 to Rs. 22,744 per month, the equivalent of $65 and $275.
Average salary in India
Analysts estimate that the average wage in India in 2023 increased by 8%. This is one of the best indicators in Asia. In real terms (adjusted for inflation) the figure is about 3%. Similar to the minimum wage, the average income of Indians depends a great deal on the field of work, qualifications, and the particular state.
Despite relatively high rates of economic development and improvements in the overall well-being of the population, the average wage in India remains low compared to developed countries. At the same time in the country there is a very big difference in income between representatives of individual social groups and professions. Salaries can vary by tens or sometimes by hundreds of times.
According to Indian statistical offices and recruitment agencies, the average wage in India in 2024 is about 310 rupees a day ($4). Women still earn on average 34 percent less than men, and rural workers earn about 49 percent less than urban workers.
Full-time employment in India in urban areas earns about 450 rupees a day ($6), and part-time employment in rural areas earns 140 rupees a day ($2). That said, skilled professionals, such as programmers, can earn $1,000 to $2,000 a month or more in India.
The most promising cities for finding work in India are Bangalore, Hyderabad, Mumbai and Delhi. The highest paying occupations in the Indian job market are commercial pilot, programmer, business analyst, chartered accountant, investment banking analyst. The income tax rate in the country ranges from 0 to 30%.
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