By Admin 
‘Mill owner’s dogs are also fat, but the faces of the workers are yellow’ … This lion of Tanveer Sipra tells the real story of today’s corporate corporate. In fact, a new report of the recent National Statistical Office (NSO) has revealed that between 2020 and 2023, India’s companies made a profit of 27.6 per cent annually, while the total salary received by employees increased at the rate of only 9.2 per cent. These figures show that after Kovid, there has been a tremendous bounce in the earnings of companies, but its advantage did not reach the employees completely.
The workers were heavy in pre-liberalization
According to a news published in Financial Express, if we talk about history, then between 1981-82 and 1992-93, salary and profits increased at almost the same speed. 13.6 percent vs 14.1 percent. At that time, two-thirds of the total expenses (salary + profits) were of the salary of the workers.
But between 1993 and 1998, when there was a wave of liberalization, the profits of the companies increased at the rate of more than 30 per cent, while there was no significant change in the income of the employees.
Effect of recession, recovery and magnrega
Global recession and southeast Asian economic crisis during 1998–2002 led to a decline in both companies and employees. However, between 2002 and 2008, when the Atal government introduced infrastructure projects, the profits of the companies reached 43 per cent, which was the highest ever. In this period, a good increase of 12.8 percent was seen in salary.
After this, in 2008-2013, due to schemes like MGNREGA, the demand of workers increased, causing companies to pay better salary to attract and maintain them. As a result, at that time the salary gained a record 17.7 per cent gain, while the profit was limited to 8.3 per cent.
After Kovid again changed equation
In 2013-2020, due to economic lethargy, real estate and infrastructure sector crisis and poor condition of banks, companies almost stopped, it rose at a rate of just 0.8 per cent. But there was a stable growth of 11 percent in the salary. Then came Kovid, who overturned the equation completely. After the epidemic, the profits of the companies started touching the sky again, but the share of employees decreased to 40 per cent in the total expenditure, which used to be two-thirds before.
The decreasing stake of workers
NSO statistics show that the share of Blue Caller Workers (Manual Workers) in factory operations is continuously decreasing.
In 1981-82, where 65 percent of the workers used to get 65 percent, now it has come to 47 percent. The main reason for this is an increase in demand for automation and white caller workers.
inflation is swallowing salary
If the increment is measured at inflation rate, then the picture becomes even more worrying. The average growth of salary per person between FY82 to FY23 was 9.4 percent, but if we remove inflation (7.3 per cent), there is very little hand left. This is directly impacting the life quality and savings of the workers.