How Social Security In India is Different From Developed Nations ........

Social Security Social Security- The concept

How Social Security In India is Different From Developed Nations?

82% of the workforce is in the informal sector which is largely unrecorded.

Today 1/4th of the world’s older people live in India. The overwhelming majority of these depend on transfers from their children.

In India the coverage gap i.e. workers who do not have access to any formal scheme for old-age income provisioning constitute about 92% of the estimated workforce of 400 million people.

India has an existing universal social security system.

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Explanation:

Social Security In India : Different From Developed Nations-
1.We do not have an existing universal social security system
2.92% of the workforce is in the informal sector which is largely unrecorded
3.Today 1/8th of the world’s older people live in India. The overwhelming majority of these depend on transfers from their children.
4.Addressing social security concerns with particular reference to retirement income for worker
5.In India the coverage gap i.e. workers who do not have access to any formal scheme for old-age income provisioning constitute about 92% of the estimated workforce of 400 million people.