India to See Higher Salaries as Firms Look Beyond Covid Hit
23 Jul 2021 by Bloomberg
Paychecks could rise about 8% in the financial year starting April 2022, especially if authorities avert a third wave of the virus, according to Michael Page and Aon Plc. That’s higher than the 6%-8% surveys predicted for the current year.
India has historically always reported Asia’s highest increases -- and is expected to do so for at least the next two years -- but the magnitude has been declining in recent years after double-digit inflation earlier in the decade eased. Consumer prices have risen again during the pandemic, but have been mainly attributed to short-term supply issues.
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