February 11, 2025 ECONOMIC TIMES EDITORIAL – BY ENGLISH MADHYAM
India’s gig economy set to boom: Navigating the future of work
According to TeamLease, employment in India's gig economy is set to double in the next five years.
This form of work differs from traditional employment due to factors that make it difficult to ensure
labour rights. Regulating the platform worker market requires a nuanced approach, one that avoids
introducing rigidities, while remaining inclusive. Rules must be tailored to address mobility,
working conditions, social security and bargaining power. Gig work must be classified as
employment, followed by conditions that define it. India has taken the first step by incorporating
platform work into a separate labour code, and introduced measures to expand publicly funded
social security for gig workers. This year's budget announced that GoI will provide healthcare
benefits for gig workers under PM Jan Arogya Yojana. Private companies must follow for their own
benefit.
This approach avoids the pitfalls of classifying gig work strictly as employment, which could hinder
the growth of ecommerce, or as self-employment, which would limit access to formalised social
security. Future interventions must account for the fluid nature of the gig economy. These include
access to credit that considers income fluctuations, portability of social security due to the
temporary nature of engagements, skilling for upward mobility, ensuring algorithms do not alter
contract conditions without human oversight, and maintaining pay parity with wages in formal
employment.
Access to insurance is critical. Gig work often involves navigating busy and inconsistently regulated
transportation infra. This challenge becomes even more pressing as the sector expands beyond
large urban centres. Policy must also address the likely imbalance in bargaining power resulting
from use of AI. Another critical factor is skilling. Without opportunities for growth, supply of labour
for dead-end jobs may dwindle. Tech dispersion creates more pathways for individual
advancement. The platform economy competes with traditional distribution channels and must
cultivate its own talent pool. [Practice Exercise]
Red/blue coloring of words in the sentence indicates subject verb relationship; where ‘red’
denotes ‘subject’ and ‘blue’ denotes ‘verb’.
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February 11, 2025 ECONOMIC TIMES EDITORIAL – BY ENGLISH MADHYAM
Vocabulary
1. Gig economy (noun) – a free market 12. Social security (noun) – monetary
system in which temporary positions are assistance from the state for people with
common and organizations hire an inadequate or no income.
independent workers for short-term
commitments
2. Set (to) (verb) – Prepare, Plan, Aim, 13. Bargaining power (noun) – the ability of
a party to influence others in a
Intend, Target
negotiation to get a favorable outcome
3. Boom (verb) – Thrive, Flourish, Expand,
14. Incorporate (verb) – Include, Integrate,
Surge, Grow
Absorb, Embed, Combine ल
4. Navigate (verb) – Steer, Manage, Guide,
15. Code (noun) – Regulation, Law, Statute,
Direct, Handle
Guideline, Framework
5. Differ (verb) – Vary, Contrast, Deviate,
16. Pitfall (noun) – Trap, Hazard, Risk, Snag,
Diverge, Disagree अल
Drawback
6. Nuanced (adjective) – Subtle, Refined,
17. Hinder (verb) – Obstruct, Impede,
Detailed, Complex, Layered
Hamper, Block, Delay
7. Rigidity (noun) – Inflexibility, Stiffness,
18. Ecommerce (noun) – the act of buying or
Strictness, Rigor, Firmness selling goods and services over the
internet.
8. Inclusive (adjective) – Comprehensive,
All-embracing, Broad, Wide-ranging, 19. Limit (verb) – Restrict, Constrain, Cap,
Universal Curb, Confine
9. Tailor (verb) – Customize, Adapt, Modify, 20. Formalised (adjective) – Standardized,
Shape, Adjust अ ल Structured, Organized, Systematized,
Official
10. Address (verb) – Tackle, Handle, Resolve,
Confront, Manage ल 21. Intervention (noun) – Involvement,
Mediation, Interference, Action, Step
11. Mobility (noun) – Movement, Flexibility,
Portability, Transition, Shift ल
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February 11, 2025 ECONOMIC TIMES EDITORIAL – BY ENGLISH MADHYAM
22. Account for (phrasal verb) – Comprise, 30. Pressing (adjective) – Urgent, Critical,
make up, total, represent, constitute Immediate, Acute, Compelling
31. Dead-end job (noun) – Stagnant work,
23. Fluid nature (noun) – Flexibility, Unpromising role, Limited opportunity,
Adaptability, Changeability, Dynamism, Routine task, Low-growth position
Variability ल ल
ल
24. Portability (noun) – Transferability,
32. Dwindle (verb) – Diminish, Decline,
Mobility, Movability, Flexibility,
Shrink, Reduce, Decrease
Adaptability
33. Dispersion (noun) – Spread, Distribution,
25. Algorithm (noun) – Formula, Process,
Scattering, Diffusion, Dissemination
Procedure, Mechanism, Protocol
ल
34. Compete (with) (verb) – Rival, Contest,
26. Alter (verb) – Change, Modify, Adjust,
Vie, Challenge, Oppose
Adapt, Transform ल
35. Cultivate (verb) – Nurture, Develop,
27. Oversight (noun) – Supervision,
Foster, Promote, Encourage
Monitoring, Control, Management,
Surveillance
28. Pay parity (noun) – Wage equality, Equal 36. Talent pool (noun) – a group of people
pay, Salary equity, Compensation with skills that may be available for a job
balance, Income fairness
29. Inconsistently (adverb) – Erratically,
Unevenly, Irregularly, Sporadically,
Unpredictably अ
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February 11, 2025 ECONOMIC TIMES EDITORIAL – BY ENGLISH MADHYAM
Summary of the Editorial
1. Gig Economy Growth Projection – Employment in India’s gig economy is expected to
double within the next five years.
2. Challenges in Labour Rights Protection – The gig economy lacks traditional employment
structures, making labour rights enforcement complex.
3. Need for Flexible yet Inclusive Regulation – Regulations must balance worker
protections without introducing rigidities that stifle growth.
4. Classification of Gig Work – Defining gig work as employment is essential to establish
appropriate working conditions.
5. Labour Code for Platform Work – India has included platform work in a separate labour
code to ensure better oversight.
6. Social Security Expansion for Gig Workers – The government has introduced measures
to expand publicly funded social security benefits.
7. Healthcare Benefits in Budget 2025-26 – Gig workers will now receive healthcare
benefits under the PM Jan Arogya Yojana.
8. Private Sector Role – Companies should adopt similar measures to provide social
protections for their gig workforce.
9. Avoiding Overly Rigid Classification – Classifying gig work strictly as employment could
harm e-commerce, while self-employment limits access to social security.
10. Accounting for Gig Work Fluidity – Policies must consider fluctuating incomes, social
security portability, and temporary engagements.
11. Importance of Insurance – Gig workers face risks due to inconsistent transportation
infrastructure, making insurance access crucial.
12. Impact of AI on Bargaining Power – AI-driven contract decisions could create power
imbalances that require regulatory oversight.
13. Skilling for Career Progression – Providing skill development opportunities can prevent
stagnation in low-paying gig jobs.
14. Technology as a Growth Enabler – Wider tech adoption can create more opportunities
for individual career advancement.
15. Gig Economy vs Traditional Sectors – The platform economy competes with
conventional distribution channels and must develop its own skilled workforce.
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February 11, 2025 ECONOMIC TIMES EDITORIAL – BY ENGLISH MADHYAM
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