Topic: Inclusive growth and issues arising from it.
5. With the emergence of technology-enabled gig work platforms, gig economy will be a major building block in inclusively achieving the $5 trillion economy goal, bridging the income and unemployment gap. Critically Analyse. (250 words)
Difficulty level: Moderate
Reference: The Hindu , Insights on India
Why the question:
The government’s policy think tank Niti Aayog has recommended that measures should be taken to provide for social security, including paid leave, occupational disease and work accident insurance, support during irregularity of work and pension plans, for the gig workforce in the country, which is expected to grow to 2.35 crore by 2029-30.
Key Demand of the question:
To write about the role and limitations of gig economy in achieving 5 trillion dollars economy.
Structure of the answer:
Introduction:
Begin by giving the advent of gig work in the recent past and statistic related to it.
Body:
First, write how technology has resulted in furtherance of gig work and pandemic also played a part in it.
Next, write about the various benefits associated with gig work and its role in achieving 5 trillion-dollar economy – upgrading or augmenting skills, equipping modern tools for better efficiency, people at gig jobs can earn more, some becoming even micro-entrepreneurs.
Next, write about the various limitations and drawbacks associated with gig works.
Conclusion:
Conclude with a way forward to overcome the above drawbacks.
