-Down to Earth The city's inadequate drainage system results in frequent flooding, it says Kolkata in West Bengal has something to cheer about: Its much-criticised public transport system got an elaborate mention in the third instalment of the sixth assessment report by the Intergovernmental Panel for Climate Change (IPCC). The most significant report on the global climate crisis referred to the city’s public transport network as an “illustrative case study” to showcase integrated...
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New EPFO accounts no proxy for new jobs -Santosh Mehrotra and Kingshuk Sarkar
-FinancialExpress.com Recent registrations cited as proof of job creation were mostly Formalisation of existing jobs Defending the Centre’s record on employment, prime minister Narendra Modi, in a speech in Rajya Sabha, talked about the impressive net enrolment to Employment Provident Fund Organization (EPFO): during 2021, 1.20 crore beneficiaries were enrolled under EPF—about 65 lakh beneficiaries in the 18-25 age bracket, implying they are first-time entrants to the labour market. He connected the...
More »India’s economy and the challenge of informality -R Nagaraj and Radhicka Kapoor
-The Hindu Policy efforts to formalise the economy will have limited results as the bulk of informal units are petty producers Since 2016, the Government has made several efforts to formalise the economy. Currency demonetisation, introduction of the Goods and Services Tax (GST), digitalisation of financial transactions and enrolment of informal sector workers on numerous government Internet portals are all meant to encourage the Formalisation of the economy. But why the impetus...
More »India’s informal economy has not shrunk -Santosh Mehrotra and Kingshuk Sarkar
-The Hindu An SBI Research study’s claim that there is greater Formalisation of the economy is unfounded According to a recent State Bank of India (SBI) Research report, the informal economy in India has been shrinking since 2018. Formalisation, the report says, has taken place through the gross value-added (GVA) route, consumption through increased digital payments, and the employment route. Let’s examine each of these. The report claims that the share of the...
More »How India’s informal economy is shrinking, and why that’s good news in the long term -Ila Patnaik and Radhika Pandey
-ThePrint.in Greater Formalisation will see a shift from low-paying, labour-intensive jobs in informal sector to more productive, formal-sector jobs. This could lead to disruption in short term. A report issued by the State Bank of India (SBI) last month estimated that India’s informal economy has shrunk to 15-20 percent of the GDP in 2020-21 from 52 percent in 2017-18. The report uses employment and digitisation to assess the extent of formalization in...
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