Salary Increase Rate 2024. India inc is expected to raise employee salaries by 9.8% in 2024, up from actuals of 9.2% in 2023, with the manufacturing and life sciences sectors likely to pay out the highest. Salary increase budgets in 2023 reached their highest level in 20 years, new research shows, and employers are planning to stay fairly aggressive on pay going into next year despite.
India inc is set to see a 9.6% salary increase on average in 2024, similar to the actual increase last year, according to the second edition of ey โfuture of pay 2024โ report. Finance minister nirmala sitharaman has announced an increase in the standard deduction for salaried employees by โน25,000 in the.