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✅Current affairs News for Commerce Optional Paper 2 by Civil Service Gurukul.

❇️EPFO Membership Growth: An Analysis

The Employees' Provident Fund Organisation (EPFO) serves as a critical pillar of India’s social security framework, covering workers in the organized sector. Recent data on membership growth for October 2024 highlights significant trends in employment formalization, demographic participation, and the success of labor policy initiatives.

Membership Growth Trends

In October 2024, the EPFO added 13.41 lakh net members, indicating a strong year-on-year increase. This surge signifies the expansion of formal employment, reflecting India's economic recovery and enhanced awareness about social security benefits. The robust growth also underscores the impact of government initiatives aimed at improving labor market conditions.

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Demographic Insights

Gender Distribution: Women constituted 26.4% of the new members, marking a progressive step towards greater gender inclusivity in formal employment. Policies like the Maternity Benefit (Amendment) Act, 2017, and government incentives for hiring women have likely contributed to this trend.

Age Dynamics: Approximately 58% of new members are in the 18-25 age group, indicating an influx of young workers into formal jobs. This aligns with initiatives like Skill India and the growing penetration of entry-level opportunities in organized sectors.

Geographic and Sectoral Analysis

State-wise Growth: States such as Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Delhi contributed over 60% of the total new memberships. These regions represent India’s industrial, IT, and service hubs, where job opportunities in formal sectors are concentrated.

Sectoral Contributions:

The services sector, especially IT, finance, and professional services, accounted for the majority of new memberships.

Growth was also observed in manufacturing and construction, reflecting a recovery in core sectors post-pandemic.


Re-enrollments and New Entrants

Re-enrollments: Around 7.5 lakh members re-joined the EPFO after leaving their previous jobs, indicating better employment retention and awareness about the portability of EPFO benefits.

First-time Members: Approximately 5.91 lakh workers enrolled in EPFO for the first time, showing increased formalization of previously informal workers and greater outreach by the organization.

Implications for Labor Policy

Formalization of Workforce: The growth in membership reflects the government’s focus on formalizing employment through initiatives like the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) and labor code reforms.

Gender Inclusivity: Higher participation of women signifies the success of policies aimed at gender equity and workplace diversity.

Youth Employment: The high proportion of young members aligns with India's demographic dividend and highlights the need for sustained job creation for this segment.

Regional Disparities: The concentration of growth in industrialized states calls for focused efforts to boost formal employment in less developed regions.


Policy Recommendations

1. Expand social security coverage for informal sector workers through platforms like the e-Shram portal.


2. Promote women’s employment by offering incentives to employers and expanding childcare support.


3. Address regional disparities by fostering industrial and service sector growth in lagging states.

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Conclusion

The EPFO membership growth underscores the resilience of India’s labor market and the effectiveness of its social security initiatives. This development not only enhances worker welfare but also contributes to sustainable economic growth by strengthening the organized workforce. Such trends hold significant implications for policymakers and economists alike.

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Civil Service Gurukul

Goal expansion- Commerce Optional Paper 2

👆🏻Summary of Tamil Nadu's Industrial Strikes and Factory Growth
• High Strike Rate: Tamil Nadu recorded over 26% of all industrial strikes in India from 2008 to 2018, leading among states.
• Factory Presence: The state also hosted 16% of India's factories and a similar share of factory workers during the same period.
• Strikes vs. Business Growth: Despite concerns that strikes harm business, Tamil Nadu's industrial growth continued, with an increase in both strikes and factory numbers.
• Man Days Lost: Tamil Nadu accounted for 15% of total man days lost due to strikes in India.
• Investment Indicators: The state leads in Gross Fixed Capital Formation (GFCF), indicating strong investment in fixed assets.
• Union Density: India's trade union density is about 20%, significantly lower than China's 44.2%.
• Long-Term Trends: From 2008 to 2018, Tamil Nadu's share of worker strikes increased from 28% to 30%, while its factory share grew from 14% to 16%.
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UPSC withdraws the advertisement for lateral recruitment of 45 posts "as requested by the requisitioning authority".

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👆🏻Current Affairs for UPSC Commerce Optional by Civil Service Gurukul
✅RBI to set up Digital Payments Intelligence Platform to check payment frauds (07/06/2024)
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Daily Answer Writing Practice for Commerce Optional UPSC
(Mains)- Day 2
Syllabus:- Financial Management of Paper 1 of UPSC Commerce
Optional
Topic – Tools of Financial Analysis: Ratio Analysis
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✅Answer Writing Practice for Commerce Optional UPSC (Mains)- Day 1
✅Syllabus:- Financial Management of Paper 1 of UPSC Commerce Optional
✅Topic – Nature ,Scope and Objectives of Financial Management-Risk & Return relationship
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✅Answer Writing Practice for Commerce Optional UPSC (Mains)- Day 1
✅Syllabus:- Financial Management of Paper 1 of UPSC Commerce Optional
✅Topic – Nature ,Scope and Objectives of Financial Management-Risk & Return relationship

https://civilservicegurukul.com/daily-answer-writing-practice-for-commerce-optional-upsc-mains-day-1/

Syllabus of Financial Management

We are starting answer writing practice from Paper 1 of UPSC commerce Optional .
all the best.
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❇️We are happy to inform you that we are starting daily answer writing practice for UPSC Commerce Optional from 06th June 2024.
❇️We will send 3 Questions daily to practice for Daily answer Writing.
❇️We will send daily study target also.

✅Registration form - https://forms.gle/qqE7vBfvs9s4E3PVA

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✅for more details Contact @csgurukul

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👆 Important for UPSC Commerce Optional Paper 2. Industrial Relations (IR): ILO and It's functions.
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✅Educational Update
We are announcing Mentorship program for UPSC Commerce Optional 2024 and 2025.
We will start mentorship program from 09/04/2024.
🔽Primary Focus of Test Series.

The Primary Focus of the Program will be
✏️Covering the entire syllabus via the Test Series in a disciplined manner before the Mains Examination.
✏️Providing vital inputs and feedback to improve answer quality and possible scores before it too late to make changes in one’s writing style. Beginning early helps in both improving the answers as well as absorbing the inputs given and implementing them.
✏️Aiding Preparation by providing notes / articles on important topics related to Current Affairs.
✏️Providing Detailed Solutions to cover all dimensions of questions asked.


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Determination of stock level for upsc exam commerce optional paper 1

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