The Development Of India 's Economy

2080 WordsNov 11, 20169 Pages
The credit for the development in India 's economy in terms of size and dimensions to global workforce is both the formal and informal sector. Recent attempts to bring some policy for the welfare of the informal sector by the government cannot be overlooked. This sector includes all private enterprises owned by individuals or partnership basis with less than ten workers. With social scientists studying informal sector, there is a disagreement on the potentiality of this sector in contributing growth of the economy; nearly 92 percent of labour is in informal sector and 8 percent in formal sector. The Government of India formed the National Commission for Enterprises in the Unorganized Sector whose purpose was to enhance the quality of work and livelihood welfare if the workers in the informal sector such as farmers, farm labourers and workers. It 's main objective was to bring about improvement in the productivity of the enterprises in this section, bring in labour laws, labour rights, social security for this mass of workers. But implementing these welfare measures is challenging as this will need strong commitment from the State Governments and welfare agency boards. Although the corporate sectors can be asked to contribute to this national funds; this will surely bring socio-economic welfare for the informal sector. The State when starting the policy for development for this sector must ensure that work and livelihood of the working workers is not displaced and there is

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