Write a script on 'Organised and Unorganised Sector' roleplay please.
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Answer:
The Non-Corporate or unincorporated sector constitutes largest portion of the economy in terms of value addition, savings, investments etc. The share of corporate sector is around 12-14 percent in our national income while that of unincorporated [non-corporate] or Bhagidari sector is more than 30 percent. In the case of United States, the share of corporate business is nearly 70 percent.
Even in manufacturing activity the share of non-corporate sector is nearly 40 percent if we consider the unregistered manufacturing group (fully non-corporate sector) plus the partnership proprietorship groups in the registered manufacturing group.
The non-corporate forms of organisations are major players in such activities as manufacturing, construction, transport, trade, hotels and restaurants, and business and personal services.
The informal sector plays a significant role in the economy in terms of employment opportunities and poverty alleviation. This sector generates income-earning opportunities for a large number of people. In India, a large section of the total workforce is still in the informal sector, which contributes a sizeable portion of the country's net domestic product.
The unorganised sector has a crucial role in our economy in terms of employment and its contribution to the National Domestic Product, savings and capital formation.
Generally, all enterprises which are either registered or come under the purview of any one of the acts like the Indian Factories Act 1948, Mines and Minerals (Regulation and Development) Act, 1957, the Company Law, the Central/State Sales Tax Acts, the Shops and Establishment Acts of the State governments, are defined as part of the organized sector. Also included are all government companies, departmental enterprises and public sector corporations.
"Similarly, forestry, irrigation works, plantations, recognised educational institutions, and hospitals which are registered as non-profit making bodies are also classified as organised sector...all unincorporated enterprises and household industries which are not regulated by any acts of the above mentioned type and which do not maintain any annual reports presenting the profit and the loss and balance sheets are classified as unorganized" (National Accounts Statistics- NAS 1980: pp 69).
A partnership firm may, thus, be grouped under the 'organised sector' if it was covered under any of the statutes mentioned and if it maintained annual accounts. Otherwise it would be classified under the 'unorganised sector'. Thus, non-corporate enterprises can figure under either of the two (organised and unorganised) sectors in the national income classification.
The unincorporated or non-corporate sector has the largest share of national income, manufacturing activities, services, savings, investment, taxes, credit market, employment, forex earnings, etc. Yet it is little understood, dismissed as 'un-organised', 'informal' or 'residual' sector. It is important that the nature and role of this sector are explored to see how it impacts the economy, says R. Vaidyanathan.
Informal sector
From the point of view of mode of production or economic activity, the distinguishing features of the informal sector are as follows:
Low level of organisation; small in scale usually employing fewer than ten workers and often from the immediate family;
Heterogeneity in activities;
Easier entry and exit than in the formal sector;
Usually minimal capital investment; little or no division between labour and capital;
Mostly labour intensive work, requiring low-level skills; there is usually no formal training as workers learn on the job;
Labour relations based on casual employment and or social relationships as opposed to formal contracts; employer and employee relationship is often unwritten and informal with little or no rights;
Due to their isolation and invisibility, workers in the informal sector are often largely unaware of their rights, cannot organise them and have little negotiating power with their employers and intermediaries (ILO 2000).
Informal or unorganized sector workers dominate the Indian labor market and represent some 90% of the total Indian workforce. India's unorganized sector is one of the largest, if not the largest, in the post-industrial world. Informal employment that characterizes the unorganized sector comprises both self-employment in informal enterprises (small or unregistered) and wage-based employment undertaken without a transparent employment contract in both informal and formal sector enterprises.
Explanation:
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Answer:
Economic activities can be classified into organised and unorganised sectors depending on their conditions of employment.
• The organized sector is characterized by:
• Fixed working hours
• Job security
• Paid leaves and various other benefits
• The organized sector has less job opportunities
• Companies from the organised sector operate in the unorganised sector to save taxes and avoid giving the employees their due benefits.
• In the last decade, a lot of people in the organised sector have lost their jobs
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