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

Reliance Consumer Products Limited has appointed Amitabh Bachchan as brand ambassador for its Campa Sure packaged drinking water.
Read More....
The Delhi government has signed an MoU with the RBI to manage its banking, debt, and cash operations.
Read More....
Veteran Congress leader and former Union minister Suresh Kalmadi passed away at the age of 81 in Pune.
Read More....
HDFC Asset Management Company entered the private credit segment with the launch of a ₹2,500 crore structured credit fund.
Read More....
CCI has approved Nippon Steel’s plan to acquire 100% stake in Krosaki Harima Corporation.
Read More....
Union Education Minister Dharmendra Pradhan released 55 literary publications in classical Indian languages in New Delhi.
Read More....
Former world billiards champion and Dhyan Chand Awardee Manoj Kothari passed away at the age of 67.
Read More....
Rajasthan hosted the Regional AI Impact Conference to promote inclusive and responsible use of Artificial Intelligence.
Read More....
Ranveer Singh’s film Dhurandhar set a new record for the highest return on investment in Bollywood history.
Read More....
The United States has decided to exit 66 international organisations, including the India-led International Solar Alliance.
Read More....