write a short note on informalisation of indian workforce?
Informalisation of workforce refers to the situation wherein there is a continuous decline in the percentage of workforce in the formal sector and a simultaneous rise in the percentage of workforce in the informal sector.
in India,the trend has been reversed as growth and development generally leads to a rise in the number of individuals employed in the formal sector and a fall in the number of individuals employed in the informal sector. Estimates reveal that nearly 93% of the workers in India are engaged in the informal sector, while only 7% are engaged in the formal sector. Some argue that this increase in the extent of informalisation is a result of the reforms of 1991 which transformed India from a socialist economy to a market economy.