Coal India:20 percent Hike in wages of workers

Coal India has about three lakhs employees working in it. On Tuesday, the company has signed an agreement of wages with workers Union , in which 20 percent hike in wages was proposed for a period of five years. According to company that would have an estimated impact of Rs 5,667 crore per year to the world’s largest coal miner.

Calling the signing of wage agreement a really historic day for Coal India, Coal India CMD Gopal Singh said that they clinched the agreement at 20 per cent hike in salaries against workers’ demand for a 50 per cent raise.

“Initially the demand was for 50 per hike in the wages in the basic wages of our employees ... today we clinched the agreement with 20 per cent hike in the wages as on July 1, 2016 and plus the perks,” Singh told reporters here.

“Today is really a historic day for Coal India ... This is the 10th wage agreement ... We have clinched this agreement in the 10th meeting today (October 10),” he said.