Formalisation of India’s Labour Market
Government Initiatives The government has launched several initiatives aimed at transitioning to a more formal labour market: Make in India: This initiative aims to make the manufacturing sector...
India is still inadequately Formalised, Financialised, Urbanised, Industrialised and Skilled. While the regulatory challenges do pose questions on smoother business functioning and consequent job creation, there are several underlying factors which indicate that there is a lot of work to be done in employment, employability, and ease of doing business.
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Social security isn’t about saving for retirement; it’s about staying secure through every stage of work.” The Employees’ Provident Fund Organisation (EPFO) has revamped its withdrawal system, consolidating 13 different provisions into just 3 simplified rules. This change focuses on...
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