Industrial workers set for a pay hike
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New Delhi, Oct. 16 -- Industrial workers' salaries and government employees' dearness allowances (DA) are likely to increase with the Union government set to revise the Consumer Price Index-Industrial Workers (CPI-IW).
The base year for CPI-IW will be revised from 2001 to 2016 to reflect changing consumption patterns, which is likely to benefit millions of industrial workers, government employees and pensioners. The CPI-IW is used for calculating both industrial workers' salaries as well as government staff's DA and pensioners' dearness relief (DR).
The change in base year will reflect the changed consumption pattern of recent times and the new calculation is expected to give more weightage to increasing spending on education, healthcar...
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