why is law for minimum wages necessary?
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Many reasons have been adduced for scrapping the minimum wage. The most important one is the doxa of liberalisation, which dictates that the market and not the government should determine prices so as to preserve efficiency and competitiveness. This was the objection raised by industry and heeded by the government.
The second reason to scrap the minimum wage, especially now, is that it contradicts the National Democratic Alliance (NDA) government’s flagship ‘Make in India’ initiative. For foreign capital to make in India, Indian labour has to remain cheaper than Chinese, Vietnamese, Cambodian and Bangladeshi labour.
hope it helps you
The second reason to scrap the minimum wage, especially now, is that it contradicts the National Democratic Alliance (NDA) government’s flagship ‘Make in India’ initiative. For foreign capital to make in India, Indian labour has to remain cheaper than Chinese, Vietnamese, Cambodian and Bangladeshi labour.
hope it helps you
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