Describe the features of organized sector of the economy.
✅ Answer & Solution
Features of the organised sector :
1. Registration by the government - The organised sector covers those enterprises or places of work where the terms of employment are regular and the enterprises are registered by the government and have to follow its rules and regulations, such as the Factories Act, Minimum Wages Act, Payment of Gratuity Act and Shops and Establishments Act.
2. Security of employment - It is called organised because it has some formal processes and procedures. People have assured work and are employed regularly; they cannot be asked to leave without a valid reason.
3. Fixed working hours and overtime - Workers work only a fixed number of hours. If they work more, they have to be paid overtime by the employer.
4. Additional benefits - Workers get several benefits from the employer - paid leave, payment during holidays, provident fund, gratuity, medical benefits and pension after retirement.
5. Safe and healthy working conditions - The employer has to provide facilities like drinking water and a safe working environment.
Examples : Government offices, banks, registered factories, schools and hospitals.
Conclusion : Because of these features, jobs in the organised sector are more secure and protected than jobs in the unorganised sector.
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