India's Budget 2025: A Milestone for Gig Workers

Finance Minister Nirmala Sitharaman's Budget 2025 includes pivotal reforms for gig workers through social security and healthcare access. Initiatives like revamped PM SVANidhi scheme, identity cards, and registration on e-Shram portal aim to empower gig economy workers, promoting inclusive growth and future economic expansion.

In a significant move, Finance Minister Nirmala Sitharaman, during her Budget 2025 presentation, pledged identity cards and healthcare access through a social security scheme for gig workers. This initiative is part of broader investments aimed at supporting street vendors and urban laborers.

Further reforms under the revamped PM SVANidhi scheme include enhanced bank loans and UPI-linked credit cards with a Rs 30,000 limit, alongside capacity building support. A newly formed committee is tasked with developing a framework to extend social security benefits to gig and platform workers.

The Ministry of Labour and Employment issued advisories urging aggregators and their workers to register on the e-Shram portal. This marks the first legislative recognition of gig workers, with the Code on Social Security 2020 establishing provisions for life insurance, health benefits, and old age protection.

Sitharaman affirmed that the 2025 budget prioritizes accelerated growth, inclusive development, and increased private investment. The parliamentary budget session, which began in January, showcases India's economic strategies, aiming for a projected 6.3 to 6.8 percent growth in the 2025-26 fiscal year, while highlighting a necessity for sustained 8 percent growth for long-term aspirations.