 "Factory workers wage growth")
Corporate profits rose faster than wages in 2023-24 as companies chose to deploy more resources into capital than labour, according to the latest Annual Survey of Industries (ASI), confirming a divergence that was also flagged in the Economic Survey 2024-25.
While corporate profits per factory rose 7 per cent to ₹41.3 million in FY24, the average wages paid per worker increased 5.5 per cent to ₹2,16,000, the same pace of growth recorded in the previous year, as per the ASI 2023-24 (FY24). “Corporate profitability soared to a 15-year peak in FY24. While profits surged, wages lagged,” the Economic Survey had
