Q. Which of the following initiative/s launched by government to bring the economy into formal net?
1.Registration of un-organised workers on the eshram portal.
2.Street vendors on SVANidhi.
3.MSMEs on the Udayam portal.
Choose the correct answer from below given codes:

[A] 1 only

[B] 1 and 2 only

[C] 2 and 3 only

[D] 1, 2 and 3

Answer: D

Explanation: Another vital contribution of digital infrastructure has been the greater formalisation of the economy.

  • A report in The Economist (January 2023) attributes the trends of formalisation of the workforce in India to the transformed digital financial architecture, the digitalised GST system and growth in the usage of UPI.
  • The creation of digital identities such as Aadhar, registration of unorganised workers on the eshram portal, street vendors on SVANidhi, taxpaying firms on GSTN, and MSMEs on the Udayam portal, has played a significant role in the inclusion of these groups under the formal economic net.

Source: Economic Survey 2022 – 23