WEB DESK
The monthly average income of a salaried person in urban India has grown only 7.5 per cent from Rs 20,030 in the second quarter of fiscal 2022 to Rs 21,647 in the first quarter of fiscal 2023, according to a report by ICICI Securities.
Meanwhile data from the Periodic Labour Force Survey (PLFS) shows that for a casual labourer in urban India, the daily wages increased from Rs385/day in Q2FY21 to Rs464/day in Q1FY23.
On the flip side, average income of a salaried person in rural India has stagnated at Rs14,700/month for the 18-month period ending Q1FY23 as per the annual PLFS study. However, daily wages of rural casual labourers have increased from Rs302/day in Q2FY21 to Rs368/day in Q1FY23.