India Inc''s salary payout rises by 40 per cent: ASSOCHAM

21 Feb 2007

New Delhi: According to an Assocham study based on third quarter results of FY07 of 160 companies, India Inc's payout in salaries rose by 40 per cent.

The findings show that the wage cost of the firms engaged in the services sector went up by 60 pc at the end of third quarter of FY07 compared to the same period last year.

Media and entertainment sector topped the list with an increase of 184 pc followed by real estate (171 per cent) infrastructure (156 per cent), hotels (107 per cent), IT (57 per cent) and finance (56 per cent).

Assocham president Venugopal Dhoot said the industry was facing shortage of trained manpower resulting in higher wages. Rising salaries are also the result of high rate of inflation which is also affecting the interest rates.