(A)OR(B)

“Employment in the formal sector guarantees better income and social benefits compared to informal sector job.”

Defend or refute the above statement with valid reason and example.

(A) The given statement is defended. Formal sector workers are entitled to fair wages and other social security measures such as pension, provident fund, etc.Whereas, workers in the informal sector do not get regular income and social security benefits. They can be dismissed without any compensation.For example: A government employee receives regular salary along with pension and social security, whereas a daily wage worker works without any social security.(B) Investment in healthcare contributes to a nation’s development by ensuring the availability of a healthy workforce. The productivity of a healthy person is relatively higher than that of an unhealthy person. Healthy people may provide an uninterrupted labour supply for a long period. Thus, better healthcare enhances labour productivity, promotes human capital formation and ultimately supports the economic development of a country.