Securities and Exchange Board (SEBI) disclosures expose the ugly truth of income inequality in Nifty top 50 companies

Financial disclosures from Nifty top 50 companies to the Securities and Exchange Board has startling revelations regarding gender, caste and income gap in Indian companies. Of the 50 companies none had a person from SC/ST community heading the organisation while only 1 woman featured in the list. The income disparity between the executive and median pay (median remuneration essentially means that half the employees in the organisation make less than that amount, while the other half makes more) in the companies was appalling. Hero Motocorp topped the list with its Managing Director and CEO earning 752 times more than the median pay while Maruti Suzuki stood at the lowest but still had an income disparity of 39 times between the pay of the CEO and a median worker in the company. The situation is only going to worsen with the promulgation of Labour Codes which promote Fixed Term Employment.