The move will be beneficial to a large section of workers in small factories, MSMEs, tea estates, and collieries under the government sector undertakings.
Government said it is in the process of amending the Minimum Wage Act to address the problems of labour and contract workers.
The high-level committee headed by FM Arun Jaitley will meet on Wednesday and give final touches to Labour Code on Wages.
The government will enhance minimum wages and make it mandatory across the country to boost demand of goods and services.
The Narendra Modi government is treading labour reforms cautiously but steadily.