National wage policy

The document discusses the need for a national wage policy in India. It notes that while minimum wage legislation exists, wage fixation is done at the state level, and execution of minimum wages faces many issues. The Second National Commission on Labour recommended appointing an expert committee to analyze all factors and set a national wage policy. The objectives of a national wage policy would be to ensure minimum wages allow meeting basic needs across regions and sectors, maximize employment opportunities, eliminate poverty, reduce wage differentials, standardize wages in similar industries, and link wage increases to productivity increases. Revision of wages should be higher than GDP growth but lower than inflation to maintain real wages while allowing some return to the economy.