2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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500 million
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300 million
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400 million
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100 million
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Detailed explanation-1: -Despite witnessing rapid economic growth over the last two decades, 90% of workers in India have remained informally employed, producing about half of Gross Domestic Product (GDP).
Detailed explanation-2: -The measures to curb the spread of COVID-19 have impacted negatively on informal workers, whose jobs are precarious, who often depend on daily earnings for survival, and who lack legal and social protections. These impacts have been experienced unevenly by different groups of workers within the informal economy.
Detailed explanation-3: -Global unemployment is expected to remain above pre-COVID-19 levels until at least 2023. The 2022 level is estimated at 207 million, compared to 186 million in 2019.
Detailed explanation-4: -Tools. The term “informal economy” refers to all economic activities by workers and economic units that are – in law or in practice – not covered or insufficiently covered by formal arrangements.