November 2024
28Nov

The Gig Economy in India: A Double-Edged Sword

The rise of the gig economy in India represents a profound transformation in the country’s labour market. Enabled by rapid digitization, growing smartphone usage, and platforms like Uber, Swiggy, and Zomato, millions now perform short-term “gigs” without formal employment. This shift promises flexibility for both businesses and workers, offering companies an on-demand workforce while allowing workers immediate earnings. Yet, this transformation has a dual nature: while it offers flexibility and income opportunities, gig work also brings challenges, such as...

November 28, 2024
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27Nov

Delhi Govt Re-Launched Senior Citizen Pension Scheme Despite Challenges: Bharadwaj

New Delhi, Nov 25 (IANS) Delhi health Minister Saurabh Bharadwaj announced on Monday that the Aam Aadmi Party (AAP) government has re-launched the senior citizen pension scheme, despite challenges posed by the Central government. The scheme, offering financial assistance to Delhi residents aged 60 and above, was revived under the leadership of former Chief Minister Arvind Kejriwal, who had previously launched it but saw it halted during Political setbacks. The re-launched scheme has seen overwhelming interest, with over 10,000 applications on its first day. The...

November 27, 2024
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25Nov

India. 80,000 more people to get old-age pension in Delhi: Kejriwal

AAP supremo Arvind Kejriwal on Monday said an additional 80,000 people are now eligible for old-age pension in Delhi, raising the total number of such beneficiaries to 5.3 lakh. Kejriwal said at a press conference that the Delhi government is committed to social welfare and highlighted that the decision to pay old-age pension to more people is being implemented following Cabinet approval on Sunday. On Sunday, the Delhi government launched a portal for the elderly to apply for pensions. It has...

November 25, 2024
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21Nov

How India’s Gig Worker Unions Are Fighting for Change

Syed Lateefuddin was only in the first week of his job as a driver for Uber when an early dawn ride changed his life. Lateefuddin, who is Muslim, accepted a ride around 3:30 am and was driving across the streets of southern India’s metropolis of Hyderabad—home to 11 million people and located about 440 miles east of Mumbai—when six men accosted him. The men trailed him and later attacked him, forcing him to chant Hindu religious slogans and pelting his car...

November 21, 2024
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October 2024
11Oct

India launches pension system for all ages, infancy to 70

NPS Vatsalya allows accounts to be opened for children. India’s recent launch of the National Pension System (NPS) Vatsalya aims to expand pension coverage to a broader demographic, allowing individuals from infancy to 70 years old to participate. With its flexibility and portability, NPS Vatsalya allows accounts opened for children to be seamlessly integrated into workplace pensions as they enter the workforce. The flexibility of the NPS remains a key feature, with subscribers having control over their contributions, pension fund choices, and...

October 11, 2024
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September 2024
09Sep

India. Social security benefits for gig workers likely to be on fast-track: Report

The Indian government plans to advance the launch of social security benefits for workers employed in unorganised sectors potentially before the full implementation of the comprehensive Social Security Code, according to a report by The Economic Times. This development follows efforts by several states to introduce similar provisions within their local laws. The Ministry of Labour and Employment has been engaged with aggregators operating in digital marketplaces for gig work, urging them to prepare for the extension of social security benefits...

September 9, 2024
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August 2024
26Aug

India approves assured pension scheme for federal government employees

The Indian government approved on Saturday a pension scheme which will guarantee federal government employees 50% of their base salary as a pension, moving away from a current scheme where the payout is linked to market returns. The Modi government has been forced to reassess the current pension system, adopted after a significant fiscal reform in 2004, as some states switched back to the older, fiscally straining system of fully funding a guaranteed pension. The Unified Pension Scheme (UPS) for India's...

August 26, 2024
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July 2024
08Jul

Empowering India’s Gig Workers: The Need for Comprehensive Legislation

In the bustling streets of India's cities, where the hum of traffic meets the aroma of street food, a new workforce is silently shaping the future. These are the gig workers  the delivery drivers rushing through narrow lanes to bring you a warm meal, the freelance coders burning the midnight oil to meet a deadline, and the rideshare drivers ensuring you reach your destination safely. They are the backbone of a rapidly growing digital economy, offering flexibility and convenience...

July 8, 2024
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December 2023
15Dec

India. About 95% of country’s population uninsured, reveals report

As much as 95 per cent of the country's population is uninsured despite the government and the insurance regulator's efforts to expand coverage, the National Insurance Academy said in a report, which was released on Thursday. Unveiling the report, Irdai Chairman Debasish Panda urged the industry to emulate steps that led to the massive success of the UPI, opening of bank accounts, as well as mobile penetration. Panda said a compulsory natural calamity insurance in high-risk regions -- as recommended in...

December 15, 2023
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October 2023
24Oct

China, India face daunting challenge to grow retirement security amid demographic, cultural shifts

Retirement systems in China and India, home to the world's largest populations with around 1.4 billion people in each country, are still in nascent stages but are expected to grow as their economies expand and their demographics shift. In both countries, the first pension pillar — a state-sponsored pension system — has been seen as inadequate, and the second pillar — employer-sponsored retirement plans — is often insufficient in meeting people's rising post-retirement needs. A third pillar focused on building...

October 24, 2023
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