unorganized sector Current Affairs, GK & News

ILO of United Nations: 400 million Indian workers to sink into poverty

On April 8, 2020, the International Labour Organization released its report, “COVID-19 and world of work”. According to the report, around 400 million people are to enter poverty in India. Highlights The United Nations Labour body, International Labour Organization has warned that the COVID-19 is to wipe out 195 million full-time jobs. Globally, the virus ..

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Pension Week to be celebrated from 30th Nov-6th Dec

The Ministry of Labour and Employment has decided to celebrate Pension Week from 30th November-6th December 2019 to drive enrolments and create awareness about the National Pension Scheme for Traders and Self-Employed Persons (NPS-Traders) and Pradhan Mantri Shram Yogi Maandhan (PM-SYM). The ministry aims to enroll 50 lakh beneficiaries under NPS-Traders and 1 crore beneficiaries ..

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Apathy in Implementation of Legal Provisions for Welfare of Construction Workers

The construction industry is one of the most inherently unorganized and decentralised sectors. The sector is also highly transitory with the majority of workers being in migratory and non-permanent employment. Legal Provisions To effectively address the concerns about the wellbeing of these workers the parliament enacted has enacted Building and Other Construction Workers Act in ..

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Over 30.6 lakh persons enrolled under PM-SYM Scheme

The Minister of State for Labour and Employment Santosh Kumar Gangwar stated in Lok Sabha that over 30.6 lakh persons have been enrolled so far under the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme. PM-SYM Scheme The Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme provides a fixed monthly pension after the age of 60 years. ..

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Pradhan Mantri Shram Yogi Maan-Dhan (PM- SYM)

The Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) announced in the interim budget 2019 has been notified by the Ministry of Labour and Employment. Features of the PM-SYM PM-SYM is a voluntary and contributory pension scheme on a 50:50 basis where prescribed age-specific contribution shall be made by the beneficiary and the matching contribution by the ..

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