New Delhi, April 23 -- India's current minimum wage laws are doing more harm than good to low-income workers, said a Foundation for Economic Development (FED) report released on Thursday.
FED is an independent, economic policy action tank based in the national Capital.
The report 'Minimum Wages Hurt the Most Vulnerable Workers' highlighted some stark findings that minimum wages cause job loss, especially for low-skill workers.
"Minimum wages are set so high across states that an estimated 64pc of India's workers earn below the minimum wage, and for 50pc of India's workers, hiring them even after a 30pc raise would still be illegal," it found using the PLFS data for FY 2023-24.
The FED report noted that India's minimum wage, which varies...