Chaitanya AwasthiAIR 37 · CSE 2022 · 213 wordsTheir whole copy
Opening · a definition
Gig Economy refers to professional understandings which do not conform to traditional employer-employee relationship. It incorporates task based and platform oriented jobs which are transient in nature.
Body · points and prose
Current Status of gig economy in India
According to NITI Aayog's "India's booming gig and platform economy" report, Gig workers are expected to rise to 23.5 million by 2030. India is emerging as one of the largest hubs of gig economy.
(A) Findings ↳ 1.5% of workforce (2014) → 4% by 2030 ↳ Increasing employment elasticity and platformization will raise demand further ↳ Skill polarization with 74.7% gig workers being medium/low skilled. ↳ Various other potential sectors opening up like education, health etc.
(B) Causes of Rise ↳ Digital Boom, Urbanization, Service Sector, Start up ecosystem etc.
(C) Concerns
- Job security → transient nature → vulnerable to demand shocks
- Digital Divide → Accessibility to devices → Digital literacy among workers is low.
- Social security → outside the net of majority of schemes.
- Remuneration → Low wages, occupational hazards etc.
Way Forward
Close · a way forward
Gig worker can play instrumental role in the vision of $1 trillion Digital Economy ↳ Proper estimation and policy ↳ Skill Development and Financial Inclusion ↳ Social security benefits via new labour codes ↳ Platform India like Startup India initiative