Perspective : Gig Economy | 25 June, 2022

A major shift in the employment trends has been the rise of gig economy globally. Gig economy is a free market system in which organisations hire or contract workers for a short span of time. 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. An estimated 56% of new employment in India is being generated by the gig economy companies across both the blue-collar and white-collar workforce. Another study indicates that Gig economy is gaining a foothold in Tier 2 and Tier 3 markets. According to the Code on Social Security, 2020, “A gig worker is a person who performs work or participates in work arrangements and earns from such activities, outside of the traditional employer-employee relationship.” In today's episode of perspective we will discuss and analyse the scope, implications and challenges for gig economy.
Anchor:- Vishal Dahiya
Producer:- Sagheer Ahmad
1. A. K. Bhattacharya, Editorial Director, Business Standard
2. Rajeev Mantri, Founder & MD, Navam Capital
3. S. K. Jindal, Chairman, Investment & Capital Markets, ASSOCHAM
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[@ShivShankar-tm6xc]

The gig economy has been growing up rapidly in the 21st century, here employers and employees have contracted out of the original relationship between employ and employer. In this worker is higher for a short span of time for a particular work after completion of work employer has no responsibility of gig work related to profident fund, wages, any kind of social security of the worker. At present many advanced economies like the US, and the UK have this kind of gig work form, and they are doing well in all aspects. Challenges are many, but benefits also, for a instance if someone work as gig works in ola for a short period, now he has an opportunity to move to other filed like IT sector after moving to the selles, so individual have can acquire many skills and opportunity to move from one sector to other without any trouble of paperwork or any kind of contracts which might be signed by him, if he was in regular work form. As per the many reports indicates that the gig work workforce is growing at a new pace in tier 2,3 cities and generating around 56‰ new jobs in blue collar and white collar in the economy. Despite pros, it has cons also, here company does, t give any kind of social security after the work has complete. Govt has come up with labour code 2020, now the states have to implement it in their area. The law falls under the concurrent list, if the state wants to modify its own way they can. India has a huge population we need to use this demographic dividend in the right direction to divert this population from becoming a demographic disaster.

[@ravindertalwar553]

TRUTH TRANSPARENCY AND TOTAL COMMITMENT WOULD ULTIMATELY ROCK THE SHOW

[@swatisinghchhonkar5292]

Thanks Sansad tv 🙏♥️

[@shalinisharma1808]

With all its advantages, it still needs to have checks and balances to ensure that an individual is not exploited. Since there is no regulation, scamsters in the gig market loom large.

[@dhrus_5512]

This is useful for upsc perspective?

[@shalinisharma1808]

@@dhrus_5512 yes

[@dhrus_5512]

@@shalinisharma1808 you are upsc aspirant?

[@shalinisharma1808]

@@dhrus_5512 yes

[@dhrus_5512]

can you share me your contact ya any id?

[@vijaysridhar9777]

Gig economy is a system that is an example lf adhocracy , labour laws can be turned obsolete

[@chandansinghpatni]

Adhrocracy learnt that word

[@torrentking5562]

i dont think so, atleast there is an agreement beforehand b/w the parties.

[@navinvijay8075]

Thank you for the great explanation I have a few questions as a newbie in this topic Q1. Are Gig Jobs giving substantial income for the workers? Q3. Whether they are getting employment whole year or seasonal demand? Q4. How are the firms paying who hire gig workers? Q5. How do you think the government can help gig workers? Q6. Should the firms give the same employee benefits to gig workers also? Q7. How is their work life balance? Q8. What is their work culture like? Request anyone to please help. Maybe one line answers would be of great help

[@267shivanisharma4]

thank u dahiya sir

[@thoughtsofsonal]

Gig economy is the need for this capitalistic era... India has already stepped in this,since 1990

[@mdmustak9468]

Gig Economy is a Big Economy Now..!!

[@tejaswaribunkar1860]

Plzz upload in hindi

[@mohdshariq5814]

90 percent of indians are in Gig economy

[@kanakgarg7096]

Yeh app km..hi ni krta..

[@sanjayjha966]

जय भाजपा जय हिन्दूराष्ट्र 🇮🇳🚩🙏🌹

[@abhi4987]

IT cell job is also a part of gig economy ✌🏽

[@rakeshgadwal5593]

gig economy is a free market where organizations hire workers for a short period of time, around half of new employment in India is generated through gig economy, which describes the importance and shift of economy towards short term employment from regular permanent employment pros of gig economy 1) it gives the employers the autonomy to hire workers and experts for the short nature of work and build efficiency in their operating system 2) it offers employees to gain experience within short period of time and move to other sectors of their interest without spending whole of their life at same organisation 3) it offers small industries the autonomy it needs to hire workers without going through the cumbersome labour laws 4) it offers the best utilisation of technology like IT etc... to hire and deliver the short nature of jobs in organizations cons of gig economy 1) it might be exploited by big industries hire workers and may put them in work without proper working humane conditions 2) as it will not offer the social Security, it might create large no. of dependant population in the long run as the gig economy may exploit the workforce without offering right safety, occupational health measures, it must be properly regulated through suitable codes on social Security even for gig workers, also with the changing nature of economy the permanent employment may put the workers into pseudo employment as they get salary but no real work, so that he loses precious time in gaining experience, so with the right mix of safety nets to even gig workers, it can become a game changer in the economy