Gig workers may get social security benefits through 2% transaction levy on businesses

The government is considering a 2% transaction levy on businesses that hire gig workers to fund their social security benefits. This move aims to provide insurance, health, and maternity support to over 12 million gig workers who currently lack these benefits. The levy is expected to ensure fairness among different types of aggregators, such as ride-hailing and food delivery companies. If implemented, this scheme could positively impact the lives of many gig workers and promote a more stable economy.

Why it matters

The proposed levy on businesses could provide gig workers with social security benefits, improving their financial stability. This move may also encourage more workers to participate in the gig economy, potentially boosting economic activity.

Market impact

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