Increase in rural wages:
The Indian economy and farm sector have grown at an average annual rate of 4.6% and 4.2% respectively from 2019-20 to 2023-24 but it has not led to an increase in rural wages. Nominal Wages: From April 2019 to August 2024, rural wages grew at an average annual rate of 5.2% nominally (actual amount without adjusting for inflation). For agricultural wages specifically, nominal growth was slightly higher at 5.8%, reflecting stronger demand or labour dynamics in agriculture. Real Wages: From April 2019 to August 2024, real wage growth (wage adjusted for inflation) for rural workers overall was negative at -0.4%, while agricultural wages posted a modest 0.2% increase.
