Consider the following statements regarding the employment situation in India 1 The maximum share of...........

Economic Affairs Informal sector

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Consider the following statements regarding the employment situation in India.

1) The maximum share of employment is in the unorganised informal sector

2) Over the past few years, India has witnessed growth in informal employment in the organized sector.

Which of the above statements are correct?

1 only

2 only

Both 1 and 2

Neither 1 or 2

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Explanation:

Both statements are correct.
As per the Economic Survey, the employment growth in the organized sector (Public and Private combined) increased by 2% in 2012 over 2011, while it increased by only 1% in 2011 over 2010. The annual growth rate of employment for the private sector was 4.5 % in 2012 over 2011 whereas the public sector registered a marginal growth of 0.4 % in the same year.