Starting salaries in India among lowest

Graduate Indian employees sit towards the bottom of the Asia-Pacific countries

Entry-level salaries in India are amongst the lowest in the Asia Pacific region, a study by professional services firm Towers Watson says.

The average monthly starting pay in India is around USD 400 (Rs. 24,000), less than one-fifth of the equivalent paid in South Korea and Singapore, said the study by Towers Watson’s Data Services.

Graduate Indian employees sit towards the bottom of the Asia Pacific countries in terms of starting salary, it said, adding that it augurs well for the ‘Make in India’ campaign as this would give the MNCs a competitive advantage over other Asia-Pac countries. “Although dependent on prevailing exchange rates, the findings clearly highlight India’s position as a competitive and attractive workforce and talent market,” said Sambhav Rakyan, Data Services Practice Leader, Asia Pacific at Towers Watson.

Further up the ladder, wages for experienced professionals at middle management levels in India are slightly more competitive, but still below their Asia Pacific peers.

Notwithstanding the recent push in its manufacturing sector and popularity of the IT sector, an engineering manager in India earns an average salary of USD 56,530 —— almost half of his Chinese counterpart (USD 112,070) and one-third of his Singaporean counterpart (USD 151,168), 

the report said.PTI

Cabinet approves 6% hike in DA for central govt employees

NEW DELHI: Good news for central government employees. The Union Cabinet on Wednesday cleared a proposal to increase dearness allowance (DA) to 119% from 113%, which will potentially benefit over one crore government employees and pensioners.

The proposal to increase DA by six percentage points was taken at a meeting by the Union Cabinet.

DA is paid as proportion of the basic pay.

Earlier in April, the government had hiked DA by 6% to 113% of their basic pay with effect from January.

The proposed DA hike will take effect from July 1. As per the agreed formula, the DA rate increase is an average of 12-month consumer price index-industrial workers from July 1, 2014 to June 30, 2015.

The proposed hike is in accordance with the accepted formula based on the recommendations of the 6th pay commission, which will benefit 48 lakh government employees and 55 lakh pensioners.

Last month, the Cabinet had given approval for the extension of the term of the 7th Central pay commission by four months up to December 31.

Source : TOI

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