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Dexter Capital Advisors • 3m
It’s regrettable that Zomato, Swiggy, Zepto, Uber etc will now have to deduct 5% of commissions paid to delivery/driver folks and pay that to the state Govt 🙏🙏 The Govt says, they will put it into a welfare fund! Social security for gig workers - sounds noble. But, it’s a textbook case of good intentions paving the way to chaos. .. First, the problems. - As per Karnataka Govt’s economic survey, Bengaluru has ~2 lakh gig workers working for such platforms - A 5% fee will either squeeze workers’ earnings or get passed to consumers like us as platforms try to ensure that the in-hand made by gig workers does not fall Also, the bill promises to end arbitrary terminations. But how? Take any of the platforms. They don’t employ gig workers. They call them business partners who can log in and out any day or time, while platforms determine their income accordingly. It’s a promise the Govt can’t hold 🙏🙏 .. Second, the administrative nightmare. The Gig Workers’ Welfare Board will collect and manage funds, but history shows that these boards are often dysfunctional. - Times of India had reported in Dec, how Karnataka Govt’s own Labour Welfare Fund spent only 28% of its funds on workers’ schemes from 2019-24, with 40% going to admin costs like salaries - Economic Survey of 2023 had also mentioned that the Building and Other Construction Workers’ Welfare Fund has Rs 50k crore unutilized - 70% of its corpus - due to poor outreach and red tape And, we trust this new fund to be any different? .. Sure, there are few positives. The bill’s grievance redressal mechanism could help workers fight unfair treatment, a real issue in a sector with no job security. If implemented as promised, state Govt might offer gig workers healthcare or insurance. Karnataka’s move could also set a precedent, pushing other states to prioritize gig workers’ rights. But the harsh truth is that most such Govt funds in India fail because of inefficiency and corruption. Lack of awareness, complex processes, and bureaucratic apathy ensure funds remain unutilized while workers suffer 🙏🙏
Building DineDash ||... • 5m
🚀 Transforming the Lives of India’s Gig Workers – Need Your Validation! India’s gig economy powers platforms like Swiggy, Zomato, and Uber, but gig workers face challenges like irregular income, lack of health insurance, and limited access to bette
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The recent news of Karnataka CESS for gig workers has got me interested in this. How about a micro investing platform for gig workers. Where they invest as low as 50 rupees per week. We as a platform invest the pool of funds in a Multi strategy inve
See MoreMoney is time and mo... • 10m
Hi I am a founder of Gighive and want to build a app for GIG workers and business where GIG workers help business to grow and manage their services as their is a huge employment gap in the economy as in festival season requir more workers and afte
See MoreOn a mission to crea... • 2d
These days, I see a lot of people talking about aggregator businesses — some in grocery delivery, some in food delivery. But one question I keep wondering about is: how will you hire gig workers? Coz most of them are already tied up with platforms l
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Mutual Fund Maestro Slogan: "Your guide to navigating the world of mutual funds." Description: Mutual Fund Maestro is a comprehensive platform dedicated to helping investors understand, research, and invest in mutual funds. It provides a one-stop-sho
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