GIG Economy - tends in India and Govt. initiatives

What is it? 

Gig workers are independent contractors online platform workers, contract firm workers, on call workers and temporary workers.  Gig workers enter into formal agreements with on-demand companies to provide services to the company's clients.

Background

In the 2000s, the digitalisation of the economy and industry was carried out rapidly due to the development of information and communication technologies such as the Internet and the popularisation of smartphones.

As a result, on-demand platforms based on digital technology have created jobs and employment forms that are differentiated from existing offline transactions by the level of accessibility, convenience and price competitiveness.
In general, "work" is described as a full-time worker with a set working hours, including benefits.

But the definition of work began to change with changing economic conditions and continued technological advances, and the change in the economy created a new labor force characterised by independent and contractual labor, such as well.

Job Economy vs GIG Economy 

How is it different?

In a Gig Economy, employees work on a contractual basis, which exists outside its traditional employment. The jobs are flexible, on a temporary basis, and mostly creating networks digitally.

People start making a living by taking multiple job roles which are project based, and it’s definitely fun since they do what they want to and whenever they wish to. No limitations.

Some are already a part of this GIG ECONOMY like Cab drivers, delivery and some are freelancers like web designers, content writers and the other talent gigs.
Teachers, sales person, independent contractors, consultants, artists are few more examples of common gig workers.

INDIA'S GIG Economy - projections 

New Platform - by the Govt. - for GIG workers on the anvil

The draft rules of the labour code on social security unveiled on Sunday by the Centre (Govt. of India) has suggested establishing a national platform, man database and monitor progress, while states will create policies to provide social security benefits to gig and informal sector workers on a self-registration basis.

• Under the Code on Social Security (Central) Rules, 2020 all unorganised sector workers will have to update their particulars on a portal specified by the Govt
• Gig firms will be required to make an annual contribution by June 30 of every year for the social security of gig and platform workers
• The rules have been framed for the implementation of the provisions of the Code on Social Security, 2020, which was passed by Parliament in September

(Disclaimer : This blog is for information purposes only)