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    Abstract Au Seminar

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    Rishabh Singh
    India's workforce is predominantly in the unorganized sector, with 92% employed unofficially and only 20% of non-farm jobs existing in organized companies. While higher income non-farm sectors have more formal employment, agriculture remains largely informal regardless of economic class. Social security coverage is sparse for vulnerable groups. Recent policy changes, like lowering provident fund interest rates and shifting pension plans from guaranteed to contribution-based, reflect a pro-business approach that fails to help the poor afford protection. It is important to consider the welfare of contract and informal workers in developing supportive measures.

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    Abstract Au Seminar

    Uploaded by

    Rishabh Singh
    49 views1 page
    India's workforce is predominantly in the unorganized sector, with 92% employed unofficially and only 20% of non-farm jobs existing in organized companies. While higher income non-farm sectors have more formal employment, agriculture remains largely informal regardless of economic class. Social security coverage is sparse for vulnerable groups. Recent policy changes, like lowering provident fund interest rates and shifting pension plans from guaranteed to contribution-based, reflect a pro-business approach that fails to help the poor afford protection. It is important to consider the welfare of contract and informal workers in developing supportive measures.

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    labour

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    India's workforce is predominantly in the unorganized sector, with 92% employed unofficially and only 20% of non-farm jobs existing in organized companies. While higher income non-farm sectors have more formal employment, agriculture remains largely informal regardless of economic class. Social security coverage is sparse for vulnerable groups. Recent policy changes, like lowering provident fund interest rates and shifting pension plans from guaranteed to contribution-based, reflect a pro-business approach that fails to help the poor afford protection. It is important to consider the welfare of contract and informal workers in developing supportive measures.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    49 views1 page

    Abstract Au Seminar

    Uploaded by

    Rishabh Singh
    India's workforce is predominantly in the unorganized sector, with 92% employed unofficially and only 20% of non-farm jobs existing in organized companies. While higher income non-farm sectors have more formal employment, agriculture remains largely informal regardless of economic class. Social security coverage is sparse for vulnerable groups. Recent policy changes, like lowering provident fund interest rates and shifting pension plans from guaranteed to contribution-based, reflect a pro-business approach that fails to help the poor afford protection. It is important to consider the welfare of contract and informal workers in developing supportive measures.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    ABSTRACT

    UNORGANISED SECTOR AND CONTRACT LABOUR


    Indias workforce comprises nearly 92 per cent in the unorganized segment, with
    the entire farm sector falling under the informal category, while only one-fifth of the
    non-farmworkers are found in the organized segment. Estimates suggest that in the
    non-farm sectors, as we move up the income ladder, the share of the informal
    sector gradually declines. However, as far as the agricultural sector is concerned,
    irrespective of economic class, the share of the unorganized workforce remains flat.
    Further analysis reveals that the coverage of social security schemes has been
    extremely sparse among the economically and socially vulnerable sections. The prorich, pro-capital policy of the present regime is reflected in the recent downward
    revision of the interest rate to the subscribers of provident fund. Further, the move
    towards defined contributory schemes away from defined benefit schemes of
    pension funds is fraught with danger. Therefore, we argue that given the poor
    affordability and lack of an institutional mechanism, any design of social security
    that relies heavily on a contributory basis is bound to fail dismally. It is high time for
    us to ponder on the condition of contract labour in unorganized sector and take
    necessary and appropriate steps for their welfare and development.
    RISHABH SINGH (AUTHOR)
    AYUSHI (CO - AUTHOR)

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