Slow pace of pay growth adds to hurdles in way of India's economic recovery

Joblessness may be easing in India as the economy gradually reopens from the world’s biggest lockdown, but wage growth remains subdued -- dashing hopes of a recovery in the consumption-driven economy.

A survey by Deloitte Touche Tohmatsu India LLP showed average salaries gained 3.6 per cent in the fiscal year that started in April, down from 8.6 per cent a year ago. Only 23 per cent of the companies surveyed said they planned to offer hikes next year.

Wage bills of companies increased by just 2.9 per cent in the three months to June from a year ago -- the