The Economic Survey 2022-23 tabled in Parliament on Tuesday said real rural wages had contracted in financial year 2022-23 (FY23) till November due to elevated inflation. But it hoped that they would rise thanks to the easing of international commodity prices and domestic food rates.
“Nominal rural wages have increased at a steady positive rate during FY23 (till November 2022). In agriculture, the YoY (year-on-year) rate of growth of nominal wage was 5.1 per cent for men and 7.5 per cent for women, during the period April-November 2022. In non-agricultural activities, the growth of nominal wage rates was 4.7 per