Finance Minister Nirmala Sitharaman on Thursday announced an array of measures for the benefit of workers in both the formal and informal sector. In a massive decision, Sitharaman declared the universalization of minimum wages for all workers including those in the unorganised sector. These measures are a part of the second tranche of Rs 20 lakh crore stimulus package that was announced by Prime Minister Narendra Modi earlier this week.
Along with this, she also stated that the concept of National Floor Wage will be introduced which will reduce the disparity in minimum wages. Stress would be put on appointment letters for all workers to promote formalisation in the unorganised sector as well.
Nirmala Sitharaman added that the ESIC coverage-plan will be extended pan-India to all districts and establishments employing more than 10 workers, with special respect to the employees working in hazardous industries. Adding to that a social security scheme for Gig workers and platform workers will be devised.