Shift to Formalised Employment & Economy

May 26, 2023

Formalisation brings numerous benefits, including increased transparency, improved access to credit and insurance, enhanced social security, and more opportunities for professional growth. It helps combat income inequality, as employees receive better wages, benefits, and protection under labour laws. Formalisation also strengthens overall economic stability and contributes to long-term sustainable growth....

Extending Social Security Across Sectors and Occupations

May 26, 2023

The surge in EPFO subscribers is not confined to any particular occupational sector and is a positive indication of the growing formalisation of the economy. Previously, a significant portion of the workforce operated in the informal sector, lacking access to social security benefits. The rise in EPFO subscribers from diverse...

Younger Generation at the Forefront of Retirement Planning

May 26, 2023

Another key aspect to consider is the age breakdown of EPFO subscribers. The data suggests a diverse range of age groups actively engaging in retirement planning through EPFO schemes. The younger workforce has shown a significant inclination towards contributing to the EPF (Employees’ Provident Fund) and other schemes offered by...

Shifting Winds of Social Security

May 26, 2023

The EPFO caters to workers in medium and large establishments of the formal sector. With 6.9 crore monthly contributors on an average and over 71 lakh pensioners receiving their due every month, EPFO manages a corpus upwards of ₹17 trillion. EPFO’s corpus is a mix of debt investments worth ₹14.46...

Growing Gender Parity?

May 26, 2023

One noteworthy aspect of the rise in EPFO subscribers is the increasing participation of women in the workforce. Traditionally, women in India have faced barriers to formal employment. However, EPFO payroll data reveals a promising trend as more women are now contributing to their retirement savings through organised channels. This...

Surging EPFO Subscribers: A Sign of Formalisation

May 25, 2023

The Employees’ Provident Fund Organisation (EPFO) plays a vital role in securing the financial well-being of crores of organised and semi-organised sector employees across India. In recent years, EPFO experienced a remarkable increase in its subscriber base, underscoring a significant trend towards the formalisation of the Indian economy. Between financial...

Future-Ready Space Sector

April 13, 2023

ISP’s primary objective is to facilitate entry of the private sector into the Indian space ecosystem, enabling the domestic sector to be a competitive player in the international market. This will not only provide ISRO with an enhanced capacity for more focused research and development but will also expand the...

Collaborative Functioning

April 13, 2023

Until recently, areas of operation which held national relevance were reserved for ISRO and its arms. Increased involvement of the private sector in space will be facilitated by IN-SPACe, which will act as an interface between ISRO and non-governmental entities. Through expanded collaboration, the private sector will be able to...

Cost-Efficient Space Missions: Boon or Bane?

April 13, 2023

Aside from technological prowess, the domestic space sector is known to produce cost-efficient interventions with a high degree of success rate. ISRO’s Mangalyaan was the most affordable mission to Mars in the world. Also known as the Mars Orbiter Mission, Mangalyaan had a budget of $74 million compared to NASA’s...

Delegating and Expanding to Private Sector

April 13, 2023

ISRO is the sixth largest space agency in the world and holds an exceptional success rate but the Indian space market as a whole contributes less than two per cent to the global space market. The Indian Space Policy (ISP) aims to institutionalise the role and involvement of the private...