A Study of the Impact of Wage Code Implementation on Budgetary Allocation a Case of Teachers in Higher Education in Mumbai

Abstract

This study examines the impact of the wage code implementation on how college teachers in mumbai allocate their budgets. Despite immense popularity and universal adoption, very little is known about what the possible impact of wage code on budgetary allocation amongst teachers will be. While the wage code aims to improve compensation, its influence on spending habits remains unclear. This study aims to examine the correlation between wage code and its influence on spending habits. A survey assessed changes in budgetary allocation following a reduction in net salary. These findings highlight the potential financial strain of the wage code on some teachers. Policymakers can leverage this information to evaluate the wage code's effectiveness and explore solutions that minimize unintended financial hardships for educators. Ultimately, this study aims to contribute to a more sustainable and supportive environment for teachers in mumbai's colleges and universities.

Keywords: Wage Code, Spending Habits, Budgetary Allocation.