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Union Budget 2021: Social security for gig workers will nurture risk appetite in workers, say experts The gig economy is a free market system in which temporary positions are common and organisations hire independent workers for short-term commitments FP Staff February 02, 2021 11:11:12 IST Union finance minister Nirmala Sitharaman. ANI
Presenting the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman said the government also proposed setting up of a portal to collect information on gig-workers, building and construction workers, among others. The government said social security benefits will be extended to platform and gig workers. The gig economy is a free market system in which temporary positions are common and organisations hire independent workers for short-term commitments.
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With the rollout of a Covid-19 vaccine around the corner in India, hopes are rising among business leaders of a swift recovery in 2021 after the economy was plunged into a recession last year because of the impact of the pandemic and lockdown restrictions.
India has given emergency approvals for two vaccines – the Oxford-AstraZeneca jab and a homegrown candidate – and it is currently preparing to begin its immunisation drive, which starts on January 16. This will start with 30 million essential workers, and India has the ambitious target of vaccinating some 300 million citizens by the middle of the year. India is the second-worst affected country after the US with more than 10 million confirmed Covid-19 infections.