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Global Wage Report 2020-21: Wages and minimum wages in the time of COVID-19, recently seen in the news, released by:
  • a)
    International Labour Organization
  • b)
    World Bank
  • c)
    World Economic Forum
  • d)
    None of the above
Correct answer is option 'A'. Can you explain this answer?
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Global Wage Report 2020-21: Wages and minimum wages in the time of COV...
The ILO report titled ‘Global Wage Report 2020-21: Wages and minimum wages in the time of COVID-19’ was recently released.
  • The Report inter-alia, comments on various issues including on Indian workers having low average wages, longer hours as well as that the workers in Asia and the Pacific enjoyed the highest real wage growth among all regions over the period 2006–19.
  • Further, while comparing average wage, the report has taken into account the National Floor Level Minimum Wage which is Rs.176/- per day. However, actual wages are far higher.
  • If the median of the minimum wages in different states is drawn, it would be Rs.269/- per day in the country.
  • The Code on Wages, 2019 which has been notified on 8th August, 2019 universalises and creates a statutory right of minimum wages for all workers whether in organized or unorganised sector.
  • A new concept of statutory floor wage has also been introduced in the Code on Wages.
  • The Code also provides that the minimum wages are to be ordinarily reviewed and revised by the appropriate Governments in intervals not exceeding five years.
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Global Wage Report 2020-21: Wages and minimum wages in the time of COVID-19, recently seen in the news, released by:a)International Labour Organizationb)World Bankc)World Economic Forumd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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