Finance Minister Nirmala Sitharaman, in her Budget 2025 speech, announced that the government will issue ID cards to gig workers. These workers will also get healthcare benefits through a social security scheme. Moreover, the government will invest in street vendors, urban workers, and online platform workers to improve their financial security.
e-Shram Portal Registration and Financial Assistance
Gig workers will be registered on the e-Shram portal to ensure they receive proper benefits. Additionally, the PM SVANidhi scheme will be upgraded. It will offer higher bank loans, UPI-linked credit cards with a ₹30,000 limit, and training programs to enhance workers’ skills.
To further strengthen support, a committee with stakeholders has been formed to develop a framework for gig and platform workers’ welfare. At the same time, the Labour Ministry has urged aggregators to register themselves and their workers on the e-Shram portal.
New Legal Protections for Gig Workers
For the first time, the government has legally defined gig and platform workers in the Code on Social Security 2020. This law ensures their protection by covering life and disability insurance, accident coverage, health and maternity benefits, and retirement security.
Budget 2025 Focuses on Economic Growth
Sitharaman stressed that Budget 2025 will drive economic expansion, boost private investments, improve household income, and strengthen the middle class.
The budget session, which started on January 31, will run until April 4. This marks Sitharaman’s eighth budget presentation.
Meanwhile, the Economic Survey 2024-25 projects India’s GDP to grow between 6.3% and 6.8% in 2025-26. However, experts believe India must sustain an 8% growth rate for the next decade to fulfill its Viksit Bharat vision. The survey also points out that economic growth was slow in the first two quarters of the current fiscal year.
