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Indian govt approves hike in inflation-linked wages for federal employees

NEW DELHI: The Indian government on Wednesday said it has decided to restore a hike in inflation-linked wages for federal government employees and pensioners, a move that could improve demand for goods and services in an economy struggling due to COVID-19.

The government froze all such hikes last year as coronavirus had dented its revenue.

The salary hike for federal government employees is likely to cost the government about 344 billion Indian rupees (US$4.61 billion) annually.

(US$1 = 74.5670 Indian rupees)

(Reporting by Aftab Ahmed and Manoj Kumar; editing by Jason Neely)

Source: Reuters


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