Cabinet approves ILO resolution on transiting to formal economy

New Delhi, Jan 6 (IANS) The cabinet on Wednesday approved the tabling in India’s parliament for adoption of the International Labour Organization (ILO)-adopted recommendations “The Transition from the Informal to the Formal Economy (No.204)”, a statement said here.

“The International Labour Conference of ILO at its 104th Session held in Geneva in June 2015 adopted the said recommendation. Its adoption was supported by India,” a labour ministry statement said.

“The recommendation provides guidance to members (countries) to facilitate the transition of workers and economic units from the informal to the formal economy and promote creation, preservation and sustainability of enterprises and decent jobs in the formal economy and prevent informalisation of formal economy jobs,” it added.

A study published in 2013 – “Capitalist Development in India’s Informal Economy” – by Italian scholar Elisabetta Basile, showed a significant reduction in employment in the country’s informal sector from 77 percent in 2004-05 to 71 percent in 2009-10.

Based on National Sample Survey Organisation (NSSO) data, Basile’s study showed 93 percent of workers in rural and urban areas engaged in agricultural work excluding growing of crops (AGECG) in propreitory and partnership (p&p) enterprises.

It also notes that in rural areas, the most informalised sectors are manufacturing, wholesale and retail trade, and hotel and restaurants.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here