MEASURING FINANCIAL HEALTH IN LOW AND MIDDLE-INCOME COUNTRIES - A Case Study of Gig Workers in India

As witnessed in the past decade, a A well-structured assessment of characteristic feature of a developed financial health based on the above economy is the shift in responsibility for mentioned dimensions, can help service social protection from the government to providers build an understanding of the individual themselves (Kempson et al, the viability and usefulness of financial 2017). [...] Social Security (DCSS, 2020) defines gig 11 MEASURING FINANCIAL HEALTH IN LOW AND MIDDLE-INCOME COUNTRIES The rapid growth of the gig workforce While 84 per cent of the workers in this can be seen from the findings of the NITI industry have a savings account, only Aayog, 2022 study, which suggests that 24 per cent have access to insurance the gig worker population accounted and only 3.5 per cent h. [...] 29 MEASURING FINANCIAL HEALTH IN LOW AND MIDDLE-INCOME COUNTRIES We now delve into the various dimensions of financial health of the gig workers and try to unpack these dimensions in the context of the nature of work and engagement in the digital economy. [...] We asked the respondents questions around frequency of saving, magnitude of saving, avenues of savings and financial situations of the households to get a holistic understanding of the contribution of this indicator to the overall financial health. [...] In the context of the platform of financial health indicators can lead economy, gig platforms need to adopt a to inclusion of financial health and well- more proactive approach towards worker being as part of the national financial well-being, given the disproportionate inclusion strategy and contribute to the risk borne by them.