A person earning minimum wages today cannot survive on it year after year.
Following case study done for two years for person in Delhi proves this point:
Average Monthly Expenses (2017): 8978
Average Monthly Expenses (2018): 11793 (Yearly Change: 31%)
Average Monthly Expenses (2019): 15624 (Yearly Change: 33%)
Average Monthly Expenses (2020): 18681 (Yearly Change: 19.6%)
Following case study done for two years for person in Delhi proves this point:
Item | Expense | Month |
Total | 7955 | Dec-2016 |
Total | 8221 | Jan-2017 |
Total | 9006 | Feb-2017 |
Total | 9254 | Mar-2017 |
Total | 8284 | Apr-2017 |
Total | 8497 | May-2017 |
Total | 9912 | Jun-2017 |
Total | 9051 | Jul-2017 |
Total | 7453 | Aug-2017 |
Total | 8541 | Sep-2017 |
Total | 9880 | Oct-2017 |
Total | 11678 | Nov-2017 |
Average Monthly Expenses (2017): 8978
Item | Expense | Month |
Total | 15128 | Dec-2017 |
Total | 10794 | Jan-2018 |
Total | 10989 | Feb-2018 |
Total | 10385 | Mar-2018 |
Total | 13462 | Apr-2018 |
Total | 10790 | May-2018 |
Total | 10525 | Jun-2018 |
Total | 10159 | Jul-2018 |
Total | 10340 | Aug-2018 |
Total | 13508 | Sep-2018 |
Total | 11655 | Oct-2018 |
Total | 13777 | Nov-2018 |
Average Monthly Expenses (2018): 11793 (Yearly Change: 31%)
Average Monthly Expenses (2019): 15624 (Yearly Change: 33%)
Item | Expense | Month |
Total | 16049 | Jan-2020 |
Total | 21408 | Feb-2020 |
Total | 11997 | Mar-2020 |
Total | 11306 | Apr-2020 |
Total | 11749 | May-2020 |
Total | 11230 | Jun-2020 |
Total | 13034 | Jul-2020 |
Total | 24481 | Aug-2020 |
Total | 24944 | Sep-2020 |
Total | 17305 | Oct-2020 |
Total | 35500 | Nov-2020 |
Total | 25167 | Dec-2020 |
Average Monthly Expenses (2020): 18681 (Yearly Change: 19.6%)
Additional note about year 2020: - My monthly accomodation rental was about Rs 4000 (for single occupancy). - In Feb-2020, some expenses involved sister's wedding. - From Aug 2020 to Dec 2020, there incurred a medical expenses of roughly Rs 8000 per month. - In Nov 2020, there was an expenditure of about Rs 13000 on a matrimonial site. - Each year, there is a roughly expenditure of Rs 3000 on phone bill that involves the internet usage. We see here that: 1. There is an increment of over 31 percent in 2018 in average monthly expenses 2. Average monthly expenses increased by 33 percent in 2019. 3. Average monthly expenses increased by 19.6 percent in 2020. That is when a person is living hand to mouth and there is no improvement in quality of any aspect of life. We not only need 'Minimum Wages' act but we also need COLA (Cost of Living Adjustment) act as well. How much increment did you get in your last appraisal? If it is below 10 percent, don't even bother to mention it. Related articles: % Are Minimum Wages Sufficent? % Article showing minimum wages set by Indian government:
% Who benefits from a higher minimum wages?
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