EcoPil4C-GDP/Unemployment: Definition: Gig workers are temporary workers who are engaged in livelihoods outside the traditional employer-employee arrangement. Delivery boys, app-based taxi drivers, service providers such as cleaners and technicians, and freelance workers are all part of the gig economy.
ЁЯдФ DATA: 7.5 million+ workers were engaged in the gig economy in 2020-21, and this number could grow to more than 20 million in the next 8 year.
ЁЯдФ Classification: Gig workers can be broadly classified into platform and non-platform workers: platform workers are those whose work is based on online apps or digital platforms, while non-platform gig workers are generally casual wage workers.
Problems: Gig workers are typically hired by companies on a contractual basis and are not considered their employees.
As a result, they do not receive some of the benefits that an on-roll employee may have тАФ this means that they often do not receive benefits like paid sick and casual leave, travel and housing allowances, and provident fund savings.
NITI AayogтАЩs new report- тАЬIndiaтАЩs Booming Gig and Platform EconomyтАЭ. Given following recommendations
ЁЯШН social security measures such as income support, paid sick leave, insurance, and pensions
ЁЯШН in urban centres, women are more likely to take up platform jobs after education and marriage.
So, Government should give tax and subsidy benefit to companies if they’re hiring more women / PH.
EcoPil5-INFRA / Polity-GSM2- separation of powers/ Judicial activism / Environmental Activism: NITI Aayog report titled тАШEconomic Impact of Select Decisions of the Supreme Court and NGTтАЭ. Judgements related to stopping iron ore mining in Goa, shutting down Sterlite CopperтАЩs Tuticorin plant in Tamil Nadu, and halting consultation of Mopa Airport in Goa, the sand mining ban case, and halt on construction activities in Delhi-NCR.
These 5 judgements resulted into ЁЯШе tax-loss of Rs 8,000 crore, job loss of 16,000 workers. Way forward?
1) after banning an economic activity, court should give a clear timeline when it has to be resumed with strict supervision.
2) judiciary needs to be equipped well to balance economic and ecological interests of the country
EcoPil4B-Sectors of Economy: ease of doing business- Commerce ministryтАЩs Business Reforms Action Plan (BRAP). Index. Top rankers: Andhra Pradesh, Gujarat, Telangana, Haryana, Karnataka, Punjab and Tamil Nadu are categorised as Top Achievers. (рдРрд╕реЗ рдЫреЛрдЯреЗ рдЫреЛрдЯреЗ рд╕рд░рдХрд╛рд░реА рд░рд┐рдкреЛрд░реНрдЯ рдореБрдЭреЗ рддреЛ рдкрд░реАрдХреНрд╖рд╛ рдХреЗ рд▓рд┐рдП рдмрд╣реБрдд рдХрд╛рдо рдХреЗ рдирд╣реАрдВ рд▓рдЧрддреЗ рд▓реЗрдХрд┐рди рдЖрдкрдХреЗ рджрд┐рд▓ рдХреА рддрд╕рд▓реНрд▓реА рд░рд╣реЗ рд╣реИрдВ рдЗрд╕рд▓рд┐рдП рдЗрдзрд░ рдбрд╛рд▓рд╛ рд╣реИ.)
EcoPill3A-BoP/Intl-Trade: To reduce petrol-diesel shortage in India, Govt imposed special additional excise duty on export of petrol and diesel. (рднрд╛рд░рдд рдореЗрдВ рдИрдВрдзрди рдХреА рдХрдореА рдХреЛ рджреЗрдЦрддреЗ рд╣реБрдП рднрд╛рд░рдд рд╕реЗ рдмрд╛рд╣рд░ рдирд┐рд░реНрдпрд╛рдд рд╣реЛрдиреЗ рд╡рд╛рд▓реЗ рдкреЗрдЯреНрд░реЛрд▓ рдбреАрдЬрд╝рд▓ рдкрд░ рд╕рд░рдХрд╛рд░ рдиреЗ рдЯреИрдХреНрд╕ рдореЗрдВ рдмрдврд╝реЛрддрд░реА рдХреА рд╣реИ рддрд╛рдХрд┐ рд╡рд┐рджреЗрд╢реА рд▓реЛрдЧ рднрд╛рд░рддреАрдп рдкреЗрдЯреНрд░реЛрд▓ рдбреАрдЬрд╝рд▓ рдХрдо рдЦрд╝рд░реАрджреЗрдВ рдФрд░ рд╕реНрдерд╛рдиреАрдп рдмрд╛рдЬрд╝рд╛рд░ рдХреЗ рд▓рд┐рдП рдЙрд╕рдХреА рд╕рдкреНрд▓рд╛рдИ рдЖрдкреВрд░реНрддрд┐ рдЙрдкрд▓рдмреНрдзрддрд╛ рдмрдврд╝реЗрдЧреА.)
EcoPill3B-Intl-Orgs: G7 is an informal forum of leading industrialised nations: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. ЁЯдФ Germany holds the G7 presidency in 2022. Other participants / Partner countries/ organisations in the 2022 summit: India, Argentina, Indonesia, Senegal, South Africa, Ukraine, The United Nations, the WHO, the World Trade Organization (WTO), the IMF and the World Bank, are also participating in the Summit. ЁЯдФG7 was originally known as тАЬWorld Economic SummitтАЭ. ЁЯдФDATA: G7 countries make up 10% of the world’s population, 31% of global GDP, and 21% of global carbon dioxide emissions. ЁЯдп Most G7 countries also had a high level of gross debt, especially Japan (263% of GDP), Italy (151%) and the US (133%).
EcoPill3B-Intl-Orgs: G7-2022 Germany Summit: G7 + India+ some countries signed two documents (1) тАШ2022 Resilient Democracies StatementтАЩ – for guarding the freedom, independence and diversity of civil society actorsтАЭ and тАЬprotecting the freedom of expression and opinion online and offlineтАЭ. (2) тАЬJoining Forces to Accelerate Clean and Just Transition towards Climate NeutralityтАЭ (рдЬрд░реНрдордиреА рдореЗрдВ рд╣реБрдИ рдЬреА рд╕реЗрд╡рди рд╕рдореВрд╣ рдХреА рдкрд░рд┐рд╖рдж рд╕рдореНрдореЗрд▓рди рдореЗрдВ рджреЛ рджрд╕реНрддрд╛рд╡реЗрдЬрд╝ рдкрд░ рднрд╛рд░рдд рдиреЗ рджрд╕реНрддрдЦрд╝рдд рдХрд┐рдП рдПрдХ рдЬреЛ рд▓реЛрдХрддрдВрддреНрд░ рдХреЛ рд╕реБрд░рдХреНрд╖рд┐рдд рдХрд░рдиреЗ рдХреЗ рд▓рд┐рдП рд╣реИ . рдФрд░ рджреВрд╕рд░рд╛ рджрд╕реНрддрд╛рд╡реЗрдЬ рдЬреЛ рдХреА рдЬрд▓рд╡рд╛рдпреБ рдкрд░рд┐рд╡рд░реНрддрди рд╕реЗ рд▓рдбрд╝рдиреЗ рдХреЗ рд▓рд┐рдП рд╣реИ)
тЪ╛я╕ПЁЯУ╗тЪ╛я╕ПЁЯОЩтЬЛCapital assets given as benefits under Section 194R scope for Income tax relief.
тЪ╛я╕ПЁЯУ╗тЪ╛я╕ПЁЯОЩтЬЛRBI: Bank NPA ratio at 6-year low
тЪ╛я╕ПЁЯУ╗тЪ╛я╕ПЁЯОЩтЬЛNo change in small savings rates Amid rising G-Sec yields, economists were expecting a hike
To download the PDF compilation of current affairs– Visit Mrunal.org/current
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