what is the formal sector and informal sector. explain?
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FORMAL SECTOR :- FORMAL SECTOR CONSIST OF THE BUSINESSES, ENTERPRISES AND ECONOMIC ACTIVITIES THEY ARE MONITORED AND PROTECTED BY THE GOVERNMENT.
INFORMAL SETOR :- THE INFORMAL SECTOR , ALSO KNOWN AS UNDERGROUND ECONOMY.PEOPLE WHO WORK IN THE INFORMAL SECTOR DONOT DECLARE THEIR INCOME AND PAY NO TAXES ON THEM
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