The Commissioner of Labour in Telangana, Hyderabad, along with the Competent Authority under the Minimum Wages Act of 1948 on October 15th 2024 announced updates regarding the Consumer Price Index Numbers for state industrial and agricultural workers.
Consumer Price Index Changes
For the half-year ending June 2024, the following changes have been observed:
- Part I (Industrial Workers): The Consumer Price Index has increased by 39 points, moving from 1849 to 1888.
- Part II (Agricultural Workers): There is an increase of 38 points, changing from 1421 to 1459.
Applicability of Changes
These adjustments will be effective for the period from October 1, 2024, to March 31, 2025. They will apply to various Scheduled Employments as notified under the Minimum Wages Act, 1948.
Impact on Variable Dearness Allowance
The revised Consumer Price Index Numbers will be used to calculate the Variable Dearness Allowance (VDA), which is crucial for ensuring that wages keep pace with inflation and the rising cost of living.
