New Delhi, Feb 01: Finance Minister Nirmala Sitharaman, in her Budget speech today, announced plans to provide ID cards to gig workers, granting them access to healthcare through a social security scheme. She highlighted the government’s commitment to investing in street vendors, as well as online and urban workers. Gig workers on online platforms will receive identity cards and be registered on the e-Shram portal. The PM SVANidhi scheme will be revamped, with increased bank loans, UPI-linked credit cards with a ₹30,000 limit, and support for capacity building.
A committee with representatives from various stakeholders has been formed to recommend a framework for offering social security and welfare benefits to gig and platform workers. The Ministry of Labour and Employment has issued an advisory encouraging aggregators to register themselves and the platform workers on the e-Shram portal. The 2020 Code on Social Security, enacted by Parliament, defines gig and platform workers for the first time, outlining provisions for life and disability cover, accident insurance, health and maternity benefits, and old-age protection.
In her Budget speech, Sitharaman emphasized that Budget 2025 continues the government’s push for accelerated growth, inclusive development, increased private sector investments, improved household sentiments, and enhanced spending power for India’s growing middle class. The current budget session, which began on January 31, will conclude on April 4. Sitharaman is presenting her eighth budget, which includes proposals for fiscal policies, revenue and expenditure plans, tax reforms, and other key announcements.
India’s economy is projected to grow between 6.3% and 6.8% in the 2025-26 financial year, according to the Economic Survey 2024-25, presented in Parliament on Friday. The Survey also suggested that India must achieve around 8% growth annually for a decade or two to realize its “Viksit Bharat” vision, especially as the country’s growth showed weak progress during the first two quarters of the current financial year.
