April 10, 2009 2:28:11 pm
At a time when political parties are coming up with poll promises like job guarantees,OECD,a group of rich nations,has found that nine in 10 employees in India do not have a formal labour contract and social security benefits such as advance dismissal notices.
As per a study by the Organisation for Economic Cooperation and Development (OECD),nearly 370 million people in India do not have “formal social security”,which translates into nine out of ten employees in the country working without such benefits.
“The financial crisis is throwing many people out of work,and in developing countries with no unemployment insurance,they are forced to take informal jobs with low pay,no protection and high risk exposure,” OECD said in the report,titled “Is Informal Normal?”
The study found that informal employment has reached record levels worldwide and this has severe consequences for poverty in poor countries.
Elaborating on the report,one of its authors Johannes Jutting said in an emailed statement that going by rough estimates for India,out of nearly 450 million workers,almost 200 million are employed informally in the non-agricultural sector.
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