formal employment
New Labour Codes Expected to Boost Indian Economy by Rs 75,000 Crore and Increase Formal Employment
Nov 26, 2025 12:47 am CST
India's new labour codes implemented on November 21 are projected to boost consumption by Rs 75,000 crore according to SBI economists. The reforms will likely increase formal workforce participation by 15%, expand social security coverage to 85% within three years, and reduce unemployment by 1.3%. These changes represent a significant transformation for India's labour market, benefiting approximately 10 crore workers shifting from informal to formal employment.
India's Labour Reforms Expected to Create 77 Lakh New Jobs and Boost Formal Employment
Nov 25, 2025 02:56 pm CST
New labour codes in India could reduce unemployment by 1.3% and generate 77 lakh jobs according to a State Bank of India report. The reforms will increase formal workforce to 75.5%, improve social security coverage to 85%, and boost consumption by Rs 75,000 crore, significantly strengthening India's labour ecosystem and economic growth.
India's New Gratuity Rules: Eligibility Reduced from 5 Years to 1 Year Benefiting Millions of Workers
Nov 24, 2025 04:49 pm CST
India has reduced gratuity eligibility from 5 years to 1 year of service, significantly benefiting fixed-term employees. The reform includes an expanded definition of wages, higher calculation base, and mandatory payment within 30 days. This comprehensive guide explains who benefits, how gratuity is calculated, and the maximum tax-free limit of Rs 20 lakhs.
India's Services Sector Employment at 30%: Challenges and Opportunities for Growth Beyond Global Averages
Oct 29, 2025 02:06 am CST
NITI Aayog's comprehensive report reveals India's services sector employs 30% of the workforce, below the global average of 50%, despite creating 40 million jobs in six years. While contributing over half of national output, the sector faces challenges including widespread informality, gender disparities, and regional imbalances. The analysis provides a four-part policy framework focused on formalization, digital access, skills development, and balanced regional growth to address the disconnect between economic contribution and employment quality.