How does the informal nature of India’s workforce impact the goal of achieving inclusive growth? Suggest the potential solutions for formalizing the economy while protecting vulnerable workers.
Direct tax is a tax which is submitted by any individual or organization directly to the government as it is imposed to them based on their net worth . On the other hand Indirect tax refers to those tax are liable to pay an can be shifted to others , these are administered and governed by the CentraRead more
Direct tax is a tax which is submitted by any individual or organization directly to the government as it is imposed to them based on their net worth . On the other hand Indirect tax refers to those tax are liable to pay an can be shifted to others , these are administered and governed by the Central Board of Indirect Taxes and Customs . Example are sales tax , customs duty etc . Direct tax governed by Central Board of Direct Taxes .
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Introduction India's workforce is predominantly informal, with over 90% of workers engaged in informal employment. This extensive informality poses challenges to achieving inclusive growth, as it often results in job insecurity, limited access to social security, and reduced productivity. Body ImpacRead more
Introduction
India’s workforce is predominantly informal, with over 90% of workers engaged in informal employment. This extensive informality poses challenges to achieving inclusive growth, as it often results in job insecurity, limited access to social security, and reduced productivity.
Body
Impact of Informal Workforce on Inclusive Growth
Potential Solutions for Formalising the Economy and Protecting Vulnerable Workers
Conclusion
Formalising India’s informal workforce is crucial for achieving inclusive growth. By implementing supportive policies, enhancing financial inclusion, and providing social security, India can transition towards a more equitable and productive economy, ensuring that the benefits of growth are shared by all segments of society.
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