A new report forecasting that India can create millions more jobs over the coming years in the gig economy underscores a fundamental shift in the nature of work. While automation swept through factory floors and BPOs reduced manpower requirements, e-commerce, ride hailing and food delivery apps, streaming media and fintech have created lakhs of temporary jobs in the services sector. Although the jury is still out on the quality of life accorded by such gigs and the social security benefits they accord, recall that informalisation of jobs started much earlier. The report by Boston Consulting Group and Michael & Susan Dell Foundation predicts 90 million flexi and gig jobs in a decade from 8 million now, contributing transactions valued at more than $250 billion and an additional 1.25% to India’s GDP. Obviously, technological evolutions are hard to predict. A decade ago, few, if any, had divined these new jobs. Accepting change as the sole constant, it is equally critical to create the socio-economic framework that can support such jobs.
Expecting startups fuelled by venture capital and presently unprofitable to treat gig workers as regular employees isn’t practical. Such moves could impede innovation and investment. But if central and state governments could deliver in areas like public health, education, insurance and food security, anxieties generated by unsteady, irregular unemployment can be managed better. Last year’s nationwide lockdown when the suddenly unemployed migrant workers panicked and bolted, untrusting the promises of governments to care for them, served out this lesson in poignant detail. The gig economy does promise flexibility and improved choices for many women and part time workers. Every technological revolution till date has effaced some jobs and created plentiful others. There is room for optimism in the rapidly emerging tech-mediated world, but only upon strengthening the support of educational and health infrastructure.
The report by Boston Consulting Group and Michael & Susan Dell Foundation ______
Correct Answer :
Predicts massive rise in gig jobs in a decade.
Solution :
The correct option is Predicts massive rise in gig jobs in a decade.
Step-by-Step Breakdown:
1. Analyze the Question: The question asks to complete the sentence regarding the findings of the report published by the Boston Consulting Group and the Michael & Susan Dell Foundation based on the provided passage.
2. Locate the Relevant Text in the Passage:
Looking at the first paragraph of the text: "The report by Boston Consulting Group and Michael & Susan Dell Foundation predicts 90 million flexi and gig jobs in a decade from 8 million now, contributing transactions valued at more than $250 billion and an additional 1.25% to India’s GDP."
3. Evaluate the Options:
- Predicts massive rise in gig jobs in a decade: The passage explicitly states that the report predicts a rise from 8 million to 90 million flexi and gig jobs in a decade, which represents a massive increase.
- Predicts fundamental shift in nature of work: While the passage mentions a fundamental shift in the first sentence, it does not attribute this specific statement as the direct output/prediction of the BCG report.
- Predicts massive rise in World’s GDP: The passage states an additional 1.25% to India’s GDP, not the World's GDP.
4. Conclusion: Therefore, the correct option directly supported by the report's statistics is that it predicts a massive rise in gig jobs in a decade.
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