The Ministry of Labour & Employment is developing a scheme to provide social security benefits to gig and platform workers. This move aims to support their productivity and economic contribution, as they lack a traditional employer-employee relationship
Niti Aayog has estimated 65 lakh gig and platform workers in the country, but the number is likely to be over 2 crore as this segment is growing rapidly. By 2030, the ministry expects more than 3 crore workers in the gig and platform economy
The definition of 'gig workers' and 'platform workers' has been provided in the Code on Social Security 2020. This definition will help in identifying and providing benefits to the workers in this segment
The ministry believes that AI can create jobs rather than negatively disrupt the employment landscape. With a workforce of 643 million, India is seen as a solution to global labor shortages
There has been rapid formalization of the workforce, with approximately 7 crore Indians joining provident fund pension coverage since 2017. This trend is expected to persist, with more workers transitioning to the formal sector
The ELI Scheme, announced in the Budget, is a key initiative aimed at supporting manufacturing and formalizing the labor force. The industry is encouraged to utilize this scheme to enhance their competitiveness
The number of gig and platform workers in the country is projected to reach 23.5 million by 2029-30. The ministry is working to offer social security benefits to these workers, enhancing their productivity and contributing to the country's economy
