Informal Economy May Employ More Than 2 Crore People By 2029-30: Report
Country's gig economy has the potential to employ 2.35 crore people by 2029-30, a three-and-half-times increase in 10 years, a report released by Government think tank NITI Aayog has said.
According to the report, which was released today, the gig economy employed around 68 lakh people in 2019-20. The total number of employed persons in India in 2019-20 was estimated to be 51.10 crore. The report expects the number to rise to 56.96 crore by 2029-30.
Normally gig jobs are temporary and part-time and activities like food delivery and driving cabs owned by hailing companies fall under them.Â
"At present, about 47 percent of the gig work is in medium skilled jobs, about 22 percent in high skilled, and about 31 percent in low skilled jobs," the report said.
"But the trend shows the concentration of workers in medium skills is gradually declining and that of the low skilled and high skilled is increasing. It may be expected that while the domination of medium skills would continue till 2030, gig work with other skills will emerge," the report added.
It added the caveat that given the limited availability of employment data, the estimate is "only indicative and may not represent the true size of the gig workforce".
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