Pay Disparities

February 18, 2022 Pay disparities This refers to the article "Time to end exorbitant executive pay" by N Madhavan (The Hindu Business Line, Matters of fact, February 18). The analysis is focused and relevant across the sectors irrespective of technicalities of "ownership". Let's be aware that whether through equity contribution, taxes, by investment in different savings instruments including insurance and retirement funds or bank deposits, public share in resources tapped by private and public sector companies and organisations is substantially high in India. Let's recall during the post-independence and pre-constitution days when President's salary was fixed at Rs10,000 per month, the ratio of minimum and maximum remuneration in India was roughly 1 : 10. Executive salaries in private sector too didn't go to much higher levels than the President's salary. The issue is more deep rooted than the glaring aberrations quoted. It's high time we looked at Costs, Prices, Wages and Income Policy more closely with international comparisons and cases of sectoral and geographical imbalances within the country. Incidentally wage disparities have led to concentration of industrial production units dependent on deployment of more workers in certain states. Yusuf Ali recently proposed to start his production units in UP and open more sales outlets in Kerala! M G Warrier Thiruvananthapuram

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