Question

Difference between formal and informal sector 1

Answer 1

Hey... Here is ur answer.....

The formal sector consists of the businesses, enterprises and economic activities that are monitored, protected and taxed by the government,

whereas... the informal sector is comprised of the workers and enterprises that are not under government regulation.

Hope this will help u..... : )

Answer 2

❛Answer ❜

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Formal sector ↓

✍︎ Supervised by R.B.I

✍︎ Fixed + Low interest Rate

✍︎ e.g. Banks

Informal sector ↓

✍︎ No organisation supervises these credit activities

✍︎ High + no fix interest Rate

✍︎ e.g. Friends, traders, moneylenders, etc.

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