Government Releases New Series of Wage Rate Index

Government Releases New Series of Wage Rate Index

Daily Current Affairs / Government Releases New Series of Wage Rate Index

Change Language English Hindi

Category : Business and economics Published on: November 26 2021

Share on facebook

Labor Ministry has announced a new series of Wage Rate Index (WRI) with the base year 2016.
The government updates the WRI base year for major economic indicators on a regular basis in order to present a clear picture of economic changes and track workers' wage patterns.
The new WRI series, with a base of 2016=100, will replace the old series, which had a base of 1963-65.
The new WRI series will be compiled twice a year, on a point-to-point half-yearly basis, on January 1 and July 1 each year.

Important Takeaways

About WRI

WRI: Wage Rate Index
The wage rate is the rate at which a worker is compensated. It's one of the most important aspects of human resource management. It is determined by two factors: work productivity and production hours. Wage rate economics is the name for this type of research.

Recent Post's

Union Home Minister Shri Amit Shah will launch the BHARATPOL portal developed by CBI on January 07, 2025, in New Delhi.
Read More....
India's rising squash star Anahat Singh won the U-17 title at the British Junior Open in Birmingham on 06 January 2025 by defeating Malika El Caracsi of Egypt.
Read More....
Union Minister Giriraj Singh inaugurates the new permanent campus of IIHT in Phulia.
Read More....
The central government has appointed 8 IPS officers from the Uttarakhand cadre to key positions for 2024-25, including Neeru Garg as the Director General of the Bureau of Police Research and Development (BPR&D).
Read More....
Odisha Chief Minister Mohan Charan Majhi inaugurated the annual 'Adivasi Mela' and launched the 'Shaheed Madho Singh Haath Kharcha Yojana' aimed at addressing the problem of dropouts of tribal students.
Read More....
At the 2025 Golden Globe Awards, films and shows like 'Emilia Pérez,' 'The Brutalist,' 'Shogun,' 'Hack,' and 'Baby Reindeer' won major awards in categories such as Best Motion Picture - Drama, Best Director, and Best Actor.
Read More....
Justin Trudeau has announced his resignation as the Prime Minister of Canada.
Read More....
Sumariwalla's reign as AFI chief to end, former shot putter Bahadur Sagoo to replace him.
Read More....
Union Industries Minister H.D. Kumaraswamy launches PLI Scheme 1.1 for special steel.
Read More....
R. Chidambaram, the doyen of India’s nuclear programme, passes away at the age of 88.
Read More....