Question

should government support the informal sector? Why?​

Answer 1

Answer:

The government probably shouldn't support the informal sector of the economy for two reasons. ... Second, the government cannot collect taxes on transactions it did not know occurred. The informal market does not report earnings and thus the government gets no benefit from this sector of the economy.

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Answer 2

The government should support the informal sector.

Explanation:

• The government can give a boost to the informal sectors as it will help to eradicate the poverty of the country and help to promote small businesses to run at greater frequency and will give many young startups a chance to grow and develop in the market.

• Especially in a developing country like India where the informal sector exists in large numbers, it needs less bureaucracy and does not need too much monitoring. The terms have grown due to the rise of many industrial sectors and the development of suburbs.

• Various nations have informal economies that often referred to as shadow economy here the worker have unstable incomes but have also protection. Most of the informal economy is dominated by men and many cases have child laborers.

• Currently, this sector is expected to grow more and more and more workforce is added to this each year. Agriculture is one of the examples of the informal sectors has employed more than 50% of the population.

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