Steps can be taken to develop and promote the ecosystem of self employment in the country are i ...........

Economic and Social Issues Human development

Recently there were renewed talks on Self-employment after the data reported by Periodic Labour Force Survey Report.As per ILO, Self-employed workers are those workers who, working on their own account or with one or a few partners or in cooperative, hold the type of jobs defined as a "self- employment jobs." and, in this capacity, have engaged, on a continuous basis, one or more persons to work for them as employee(s).Ministry of Statistics & Programme Implementation has launched a new regular employment-unemployment survey, namely, Periodic Labour Force Survey 2017-18 (PLFS) during April, 2017 with certain changes in survey methodology, data collection mechanism and sampling design the earlier quinquennial (once in every five years) Employment and Unemployment surveys of NSSO. The PLFS has been launched with an objective of measuring quarterly changes of various labour market statistical indicators in urban areas as well as generating annual estimates of these indicators both for rural and urban areas, which can be used for policy making.

Steps can be taken to develop and promote the ecosystem of self employment in the country are

i Access to capital

ii Access to good quality skill-training

iii Simplifying Taxation

Select the correct answer using the code given below

i and ii only

ii and iii only

i and iii only

all of the above

none of these

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Explanation:

Following steps can be taken to develop and promote the ecosystem of self employment in the country:

•Access to capital: Since the provision of capital becomes vital to transform a self-employed individual to entrepreneurs who contribute effectively to their own wellbeing as well as economic productivity, increasing the access to such capital is vital. Improved cash flow will enable reinvestment to expand businesses, and thus create more jobs, and will help source more local goods.

•Access to good quality skill-training that can provide some strength to the self-employed community. These programs can help them to either stop being self-employed and join regular and better- paying jobs or can help them become better at being self-employed.

•Simplifying Taxation policy for startups that will prevent tax evasion.