The gig economy and the future of employment have become popular topics of discussion. The gig economy, broadly defined, involves job arrangements that are closer to “gigs” than traditional types of employment.

This industry refers to individuals taking up temporary or flexible jobs, often through online platforms. This type of work has gained popularity in recent years as it gives workers more flexibility and independence. In addition, it reduces the CAC for businesses

Impact on India’s GDP:

According to the Boston Consulting Group’s 2021 report, freelancers have the potential to contribute up to 1.25 per cent to India’s GDP, with huge growth potential.

Moonlighting & Gig Economy:

Vidyarthi Baddireddy, CEO and Co-founder, PickMyWork said, “If moonlighting were to be restricted, it would likely have a significant impact on part-time work, as many gig workers rely on moonlighting as a way to supplement their income. Additionally, it becomes more difficult for businesses to find and hire talented gig workers with diverse experience. The overall impact will depend on the extent to which the ban will be enforced.┬áIt could potentially lead to stricter regulations or limitations on gig work.”

Measures & Policies for Gig Economy:

He adds, social protection should be provided to gig workers to help them feel more secure and less vulnerable. This will really improve the overall health of the industry. It requires special focus from the government for both the parties involved.

Read more about measures & policies for gig wellness:

http://bwwellbeingworld.businessworld.in/article/Looking-On-Overall-Wellness-Of-The-Gig-Economy/01-02-2023-463913/