About 80% of economy now formal following digitisation drive, pandemic: SBI Report

Share of the informal economy has fallen drastically to 15-20 per cent of the gross value added (GVA) or the formal GDP in 2020-21 from 52.4 per cent in 2017-18 due to digitisation and the rapidly expanding gig economy, said Soumya Kanti Ghosh, the group chief economic advisor at SBI. The share of the same had stood at 53.9 per cent in 2011-12.

from Economy-News-Economic Times https://ift.tt/3nOeCUc