Finance Minister Nirmala Sitharaman, during her Budget 2025 presentation, announced a range of initiatives aimed at empowering gig workers and street vendors, signaling a continued push toward inclusive development.
In a landmark move, the government will issue ID cards to gig workers, granting them access to healthcare and other social security benefits through a newly proposed welfare scheme. The initiative aims to support urban and online platform workers by providing identity cards and facilitating their registration on the e-Shram portal.
The Finance Minister also announced a revamped PM SVANidhi scheme, introducing UPI-linked credit cards with a limit of ₹30,000, enhanced bank loans, and capacity-building measures to strengthen the financial standing of street vendors.
To ensure effective implementation, a committee comprising representatives from various stakeholders has been constituted to devise a framework for extending social security and welfare benefits to gig and platform workers. Sitharaman highlighted that these workers were formally defined for the first time under the Code on Social Security, 2020, which was enacted by Parliament. The code mandates the formulation of suitable social security measures, including life and disability cover, health and maternity benefits, accident insurance, and old-age protection for gig workers.
The Finance Minister emphasized that Budget 2025 seeks to accelerate growth, promote inclusive development, stimulate private sector investment, uplift household sentiments, and enhance the spending power of India’s growing middle class.
India’s economy is projected to grow between 6.3% and 6.8% in the upcoming financial year 2025-26, according to the Economic Survey 2024-25 tabled last Friday. However, the survey cautioned that achieving the ambitious ‘Viksit Bharat’ dream will require a sustained 8% growth rate over the next decade.
(Inputs from ANI)