Introduction The informal sector, also known as the unorganized sector, plays a crucial role in the economic structure of developing countries like India. It refers to economic activities that are not regulated by the government and are not included in the formal labor market. Despite being outside the purview of labor laws and official statistics, […]
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Introduction Global recessions have far-reaching effects on economies, but the worst-hit are often the poor, especially those working in the informal sector. The informal sector, also known as the unorganized sector, includes workers who do not have formal employment contracts, social security, or labor law protections. These workers often live on the edge of poverty,
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Introduction Urban unorganised labour refers to workers employed in the informal sector in cities and towns. These include daily wage labourers, construction workers, domestic helpers, street vendors, rickshaw pullers, delivery agents, and many others who lack formal job contracts and social security. Though they form a large part of India’s urban economy, they face several
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Role and Relevance of Informal Sector The informal sector plays a crucial role in India’s economy by providing employment to a large portion of the population, especially the poor, women, and unskilled workers. It includes activities like street vending, domestic work, construction, and small-scale manufacturing. Though informal, this sector contributes significantly to GDP and supports
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Impact of Global Recession on the Poor in the Informal Sector The global recession has severe consequences for the poor working in the informal sector. Unlike formal employees, informal workers lack social security, job stability, and regular income. This makes them highly vulnerable during economic downturns. 1. Loss of Employment During a recession, small businesses
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Compare and Contrast the Urban Formal and Informal Sectors of the Indian Economy The urban economy in India is characterized by a dual structure comprising the formal and informal sector. Both sectors play critical roles in urban economic development, providing employment and contributing to the country’s GDP. However, they differ significantly in terms of regulation,
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