GIG ECONOMY Subject : Economy Context : The lockdown gave a boost to the gig economy, while it had an “inevitable impact on the vulnerable and informal sector,” the Economic Survey for 2020-21 noted. Concept : In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and […]

    STRATEGIC SECTOR Subject : Economy Context : Highlighting the need for strong indigenous pharma companies, a Parliamentary panel has recommended that the pharma industry should be categorised as a “strategic sector” and called for a necessary follow-up action in this regard. Concept : The Committee said it was of the strong opinion that […]

    BARE NECESSITIES INDEX Subject : National Index / Economy Context : The Survey has underlined the need to focus on reducing variations in the access to bare necessities across states, between rural and urban areas, and between income groups. Concept : The Economic Survey 2020-21 has constructed a Bare Necessities Index at rural, […]