CURRENT AFFAIRS

Detailed explanation-1: -UPSC Mains. Q. Which institution recently released a report titled ‘India’s Booming Gig and Platform Economy’? Notes: NITI Aayog released a report titled ‘India’s Booming Gig and Platform Economy’ recently.

Detailed explanation-2: -Gig & Platform Sector The gig workforce is expected to expand to 2.35 crore (23.5 million) workers by 2029-30. iii. At present about 47% of the gig work is in medium skilled jobs, about 22% in high skilled, and about 31% in low skilled jobs. iv.

Detailed explanation-3: -According to a report by Boston Consulting Group, India’s gig workforce comprises 15 million workers employed across industries such as software, shared services and professional services.

Detailed explanation-4: -The gig economy is based on flexible, temporary, or freelance jobs, often involving connecting with clients or customers through an online platform. The gig economy can benefit workers, businesses, and consumers by making work more adaptable to the needs of the demand for flexible lifestyles.

Detailed explanation-5: -In India, the gig economy is similar to the country’s informal labor sector, which has been operating for a long time and is unregulated. It provides workers with no social security or insurance.