Framework for a national wage policy by T S Papola (Working Paper, No. WP 1976/121)

By: Material type: TextTextPublication details: Ahmedabad Indian Institute of Management 1976 Description: 10 pSubject(s): DDC classification:
  • WP 1976 (121)
Summary: The conflicting considerations of the desirability of raising the levels of living of workers and the need for capital formation and price stability have rendered it difficult for the policy makers in India to formulate a wage policy with unqualified and mutually consistent set of objectives. In spite of oft-pronounced denunciation of the free play of market forces, the intervention in the labour market has been limited and ineffective. On the other hand, the system of wage adjustment prevalent in the organised sector has turned wages into largely dysfunctional as factor prices and highly inequitable as factor incomes. For some time now the need for evolving a national wage policy based on the principles of ensuring a minimum wage to all employed, rationalizing the wage criteria and wage differentials and making wage adjustment functional, has been widely recognized.
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Item type Current library Call number Status Date due Barcode
Working Paper Vikram Sarabhai Library WP 1976 (121) (Browse shelf(Opens below)) Available WP000121

The conflicting considerations of the desirability of raising the levels of living of workers and the need for capital formation and price stability have rendered it difficult for the policy makers in India to formulate a wage policy with unqualified and mutually consistent set of objectives. In spite of oft-pronounced denunciation of the free play of market forces, the intervention in the labour market has been limited and ineffective. On the other hand, the system of wage adjustment prevalent in the organised sector has turned wages into largely dysfunctional as factor prices and highly inequitable as factor incomes. For some time now the need for evolving a national wage policy based on the principles of ensuring a minimum wage to all employed, rationalizing the wage criteria and wage differentials and making wage adjustment functional, has been widely recognized.

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