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Sia ? 4 years, 6 months ago
Formal sector in India
- In this sector all jobs with specific working hours and regular wages and the worker’s job is assured
- It is a licensed organization and is liable to pay taxes.
- Banks and other corporations comes under formal sectors
- Rag pickers, moneylenders, brokers are considered as a part of an informal economy.
- It is also described as the grey economy.
Informal sector in India
- Majority of the population is into the informal sectors.
- Informal sectors are deemed low with low production value.
- In India agriculture, dairy, horticulture and related occupation employ 52 percent of the workers.
- It lacks security both legally and economically
- About 25 percent of the informal sectors constitute urban employment in India
Posted by Suraj Jat 7 years, 5 months ago
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Sonali Aggarwal 7 years, 5 months ago
Merits of local government are:
Local government understands the problems of the people of their area better so its performance is better.
Local government has a better communication with the people of their area.
People have a better accessibility with the local leaders, so leaders also feel themselves to be answerable.
Demerits of local government:
Locally elected leaders may not be capable but are elected, so the decisions taken by them may not be correct.
Local leaders are elected on the basis of their influence and not qualification, so many times they hinder the working of the qualified officers and ultimately public suffers.
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Sonali Aggarwal 7 years, 5 months ago
Money is the currency issued by the government hence used as a medium of exchange.
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Mahanta Bhagat 7 years, 5 months ago
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