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What are formal sector and informal sector in india? |
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Answer» (i) Formal sector : All public sector and private sector establishments which employ 10 or more hired workers are called formal sector establishments. Those who work in such es-tablishments are called formal sector workers.(ii) Informal sector: In this sector there is no hired worker. Thus, informal sector includes millions of farmers, agricultural labourers, owners of small enterprises and people working in those enterprises are self-employed. I know you better... Formal sectors are supervised by Rbi while informal sector are supervised by moneylenders or landlord. ...Formal sector provide security to debator while the informal sectors does not provide security .... |
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