Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment;
4. A carefully curated and sensitively regulated gig economy can be the panacea for the issue of urban unemployment. Analyze. (250 words)
Reference: The Hindu
Why the question:
Due to the pandemic, in several Indian cities however, shuttered businesses have meant that millions of workers have either had to leave or have had to take up new forms of work, with some finding the burgeoning gig economy to be their only source of employment.
Key Demand of the question:
To analyse as to how an effective steps towards helping gig economy grow and flourish can offer solution to the problem of increasing urban unemployment and the measures need for the same.
Directive:
Analyze – When asked to analyse, you have to examine methodically the structure or nature of the topic by separating it into component parts and present them as a whole in a summary.
Structure of the answer:
Introduction:
Begin the answer by defining gig economy and its nature.
Body:
Mention certain facts and figures related to Gig workers in India. For example: ASSOCHAM predicted in January 2020 that India’s gig economy will grow at a CAGR of 17 per cent to $455 billion by 2023. Also, mention the stats related rising unemployment due to the Pandemic.
Further Elaborate upon as to how this economy is capturing the interest of an increasing number of white-collar employees and the advantages it offers.
Argue for the need of bringing in policies and regulations to protect the interests of the gig workforce and a complete digital transformation. The lack of active governance to protect the interests of its workforce has been a big deterrent against participation in the gig economy. Regulations in favour of consumer interests, fair marketplaces, and labour and tax policies have been generally lacking.
Conclusion:
Conclude with a way forward.
