Indians put in a significant amount of work compared to others globally, yet they receive disproportionately low wages, indicating an inverse relationship between their labor and compensation.
According to a report that studied the employment-related initiatives of the BJP-led government in the last 10 years, the wage increase of people in the country is very negligible.
The report also stated that there is a substantial growth in the self-employed individuals in the country over the last decade.
Reportedly, many families in the country still face unemployment, preventing them to get access to basic necessities. As a result, these families are unable to lead a basic comfortable life due to low or no income.
Additionally, there is a huge inequality in wages. The country’s top 1% and 10% of the people own the most of the money, 22% and 57% to be precise. On the other side, the bottom 50% of the people possess only 12%.
As of 2022, the richest 10% of the population own 64.5% of the total wealth in the nation. On the flip side, the poorest 50% own only 6.1%.
On top of that, there has been no substantial growth in the income of people in the last five years.
In 2022-23, an average income of a person in 19 out of 34 states and Union Territories earn less than Rs. 375 per day and Rs. 3050 in week.
Going by the analysis, experts opined that the unemployment and wage difference would only increase every year unless necessary measures are taken.
