NMDC employees get wage hike

Employees of state-owned NMDC will get an increase of between ₹10,000 and ₹12,000 per month. The company today concluded the ninth tripartite wage settlement for a period of five years with effect from January 1, 2012. The agreement was concluded between the management of the company and the All India NMDC Workers Federation in New Delhi before the Chief Labour Commissioner. About 5,000 employees will be benefited by this wage revision. The financial implication of the revision is estimated at ₹65 crore a year for the company. Both the sides have agreed to increase the production level to 32 mt of iron ore a year from the present 30 million tonnes.