The next Budget 2025 announced by the Finance Minister Smt Nirmala Sitharaman is likely prioritise the issue of gig and platform workers. It has been established that the policy that may remain a highlight is the social security plan intended for gig workers that may bring out a new dawn in employment security.

Why The Gig Workers Need Social Security?
Gig economy has rapidly expanded in India and millions of people are working part-time on delivery services food delivery drivers, freelancers, and other contractual positions. Nevertheless, gig workers do not get important employment attributes, for example, insurance and pension, and formal employment guarantees.

Key Challenges Faced by Gig Workers:

No Fixed Income: Fluctuated income earnin gs make it challenging to budget.
Lack of Benefits: Lack of health insurance policy from the employer, paid leaves or retirement saving plans.
Job Insecurity: Short-term contracts with no guarantee of consistent work.
Limited Legal Protection: Freelancers and contract employees are not usually protected by state employment statutes.
What Could the Social Security Policy Include?
The policy under consideration is expected to establish a complex set of measures that can improve the situation of gig workers in the future.

Potential Features:

Health Insurance:

Affordable or subsidized health coverage under government schemes like Ayushman Bharat.
Pension Schemes:

They include; National Pension Scheme (NPS), which is a retirement savings plan.
Accident and Disability Cover:

Insurance for workplace injuries or accidents.
Skill Development Programs:

Campaigns which are informative to boost human resource training and career chances.
Grievance Redressal Mechanisms:

Open channels through which the workers can complain or have an opportunity to complain on matters touching on the employers.
How Will the Policy Be Funded?
The government is likely to consider multiple funding models:

Employer Contributions: If the companies had their way, gig economy players such as Swiggy, Zomato, Ola, and Uber may be compelled to contribute to the welfare funds for workers.
Government Subsidies: It could offer funds form other welfare programs already in existence.
Worker Contributions: Substantially less likely to be considered will be contributions from employees/workers themselves that are very small.
Expected Benefits for Gig Workers
Financial Security:

Pensions and insurance guarantee a good life during unprecedented conditions.
Health and Well-Being:

Health insurance will alleviate the costs of health right.
Empowerment:

Different skill development programs will create new opportunities for development.
Recognition:

Recognition in formal structures acts as a veil that legitimizes them as players in the economy.
Reactions to the Proposed Policy
Gig Workers:

They have been saying something like, ‘Hey US designers, this is what you’ve been waiting for!’ Social security has become imperative in the society for the future.”
Industry Leaders:

Business organizations have reacted in a mixed way some expressed appreciation to the move while others have explained that there are problems with extra financial costs.
Economists:

This is expected to give structure to India’s gig economy, uplift millions of workers and improve efficiency at the same time.
Challenges in Implementing the Policy
While the policy is a step forward, there are hurdles to overcome:

Defining Gig Workers:

It means that there should be a definite distinction possible in order to classify the gig workers as per the labor laws.
Ensuring Compliance:

There is likely to be opposition when the legislation seeks to compel employers to make contributions.
Reaching Informal Workers:

Some gig workers are not within any platform hence hard to enforce inclusion.