Why ULIP mis-selling has become rampant ?
Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?
More than 1.7 crore workers from the unorganized sector and in unorganized employment registered on the e-Shram portal within a month after it was launched, the Ministry of Labour & Employment said Sunday.
The e-Shram portal was inaugurated on 26th August 2021 by the Union Labour and Employment Minister, Bhupender Yadav in presence of Minister of State (Labour and Employment) Rameswar Teli.
The portal is the first-ever national database of unorganised workers including migrant workers, construction workers, gig and platform workers. It facilitates extending benefits of social sector schemes to the workers in the unorganized sector.
The figure above depicts the weekly progress of the registration exercise. Importantly, the drive has strengthened with the mobilization of workers achieving a greater mile each week. Compared to the 2nd week with over 19.52 lakhs registration, registrations in the third and the fourth week gained exponentially. In week 4, over 69.53 lakh workers registered at the e-Shram portal.
Interestingly, almost 50% of the workers registered so far are female. There has been week-on-week improvement in the percentage of female workforce, registering themselves at e-Shram portal. The share of women workers drastically improved from around 37% in week 1 to almost 50% in the latest week, i.e. week 4.
Data analysis based on last week showed that a substantial proportion of women workers in domestic work are getting themselves registered at the portal. This is one category of occupation where women outnumber men. Besides, women form substantial proportion of workforce in sectors like agriculture as laborer, food industries as helpers and machine operators, apparel industry as helpers and tailors and also in small scale units of tobacco/ beedi rolling and as ASHAs/ ANMs in the healthcare industry. Therefore, it would not be wrong to assume that most vulnerable group of women are insured under various protection schemes accruing from registration at the portal.
