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Wage Income It is the compensation of employees contribution in the production process. Wages and salaries are the reward paid to workers. It is immaterial whether wages are paid in cash or kind. In other words, wage income consists of wages paid in both cash and kind. It should be earned by the normal residents of the country during the current year. Wage income is paid by government, firms and other institutions. Information regarding wage income as available through reports published by industrial units, government and other research and statistical organization. Various surveys conducted by the private and government bodies also furnish information regarding wage income. Government budgets also provide information regarding wage income. It is not easy to collect information regarding wage income. Practically, we collect information separately for different sectors, i.e., industrial, trade, transport, services, agricultural and government. It is quite impossible to collect......

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Approximate Word Count: 1202
Approximate Pages: 5 (250 words per double-spaced page)

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