The Indian government is planning to introduce a customized social security policy for gig and platform workers in Budget 2025. This policy aims to address the lack of benefits for gig workers, who are often excluded from traditional social security measures2. Here are some key points about the proposed policy:
- Mandatory Benefits: The policy will provide health insurance, death, and disability cover as mandatory benefits. These benefits will be activated immediately upon enrollment3.
- Voluntary Benefits: Workers can opt for additional benefits like pensions and provident funds by making small contributions.
- Contribution Model: The policy will use a transaction-based contribution model, with aggregators contributing 1-2% of their turnover and workers making nominal contributions for optional benefits.
- Eligibility: Benefits will be tied to a minimum threshold of workdays or earnings.
- Implementation: The policy is expected to be implemented from the next financial year, starting FY26.
This initiative is part of a broader effort to provide social security to the growing gig economy in India, which is projected to reach 23.5 million workers by 2029-30
Announcements For GIG Workers
In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced several measures aimed at supporting gig workers. Here are some key highlights:
Social Security Scheme: The budget introduces a social security scheme to formalize the unorganized sector and provide additional support to gig workers
Identity Cards and e-Shram Registration: The government will provide identity cards and facilitate registration on the e-Shram portal for nearly 1 crore gig workers. This portal aims to create a national database of unorganized workers.
Healthcare Benefits: Gig workers will gain access to healthcare benefits under the Pradhan Mantri Jan Arogya Yojana (PM-JAY), ensuring better support for their welfare.
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