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National
Kashmir's Shadow Wage Rate Drops to 0.47 in 2023-24
✍️ Kashmir Life
🗓 27 Oct 2026, 03:34 AM
👁 14
The Shadow Wage Rate Factor in Jammu and Kashmir has significantly decreased to 0.47 in the 2023-24 fiscal year, down from 1.00 in the previous year.
The Shadow Wage Rate Factor, a measure of the difference between actual wages and the minimum wage, has seen a sharp decline in Jammu and Kashmir. This indicator, which stood at 1.00 in the previous fiscal year, has now dropped to 0.47 in 2023-24. This signifies a narrowing gap between actual wages paid to workers and the legal minimum wage in the region. The reasons behind this decline are not immediately clear and require further investigation.