The plan to roll out the benefits for the fast-growing labour segment by early next fiscal is despite the fact that the implementation of the four labour codes, approved by Parliament in 2020/2021, is being delayed.
"As of now, the design of the framework (for gig workers' social security) is not final. Whether a scheme is introduced to provide social security to them, or some provisions of the Code on Social Security (CSS) will be invoked...has to be seen," said a person aware of the development.
"However, the framework most likely would be introduced before the labour codes are officially notified by the Central government," the person added. The government is aiming to provide such workers with health & life insurance, accident insurance, and pension coverage.
According to Niti Aayog, there were 7.7 million gig and platform workers in 2020-21, which are estimated to rise to 23.5 million by 2029-30.
This story is from the January 04, 2025 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 04, 2025 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Tenuous Gaza ceasefire
A permanent cessation of hostilities to facilitate reconstruction, however, is an open question
Brokerages positive on Paytm; shares fall
MAJOR BROKERAGES REMAIN positive on Paytm as the fintech managed to narrow its third quarter net loss, with the company continuing to witness an improvement in business metrics.
Exporters Can Import Small Diamonds Sans Duty From Apr 1
THE GOVERNMENT ON Tuesday announced a scheme that will allow duty-free import of natural cut and polished diamonds of up to 25 cents or quarter of a carat by exporters to retain India's position as a global leader in the entire diamond value chain, according to a statement.
66 dead, 51 hurt in Turkey ski resort fire
A FIRE AT a ski resort hotel in Turkey's Bolu mountains killed 66 people and injured 51 others on Tuesday, forcing panicked guests to jump out of windows in the middle of the night.
Major Lenders to Urge RBI to Delay April Liquidity Rule
Some of large lenders are planning to request concessions from the new head of the Reserve Bank of India (RBI) regarding proposed liquidity regulations, arguing the rules could hamper efforts to boost lending, according to people familiar with the developments.
D2C snack brands make global forays
D2C SNACK BRANDS like Go Desi, Beyond Snack, and Sweet Karam Koffee, among others, are making significant strides in international markets.
South Indian Bank posts ₹342-cr profit
SOUTH INDIAN BANK has posted a 12% year-on-year growth in net profit for the third quarter at ₹341.87 crore.
Trump's withdrawal of US from WHO to impact global health
PRESIDENT DONALD TRUMP is pulling the US out of the World Health Organization (WHO), raising concerns about the UN agency's ability to fight diseases and respond to emergencies around the globe without its biggest funder.
JSW Group to invest ₹3L cr in Maha's critical sectors
THE JSW GROUP on Tuesday signed a memorandum of understanding (MoU) with the Maharashtra government at the World Economic Forum (WEF) in Davos to invest ₹3 lakh crore across critical sectors in the state.
OpenAI CFO: Musk shouldn't use legal challenges to compete
OPENAI CHIEF FINANCIAL Officer (CFO) Sarah Friar characterized Elon Musk's legal challenge to stop the ChatGPT maker from becoming a for-profit company as competitive maneuvering.
