Question

Explain the difference between organised and unorganised sector of economy with example.

Answer 1

	Organised Sector	Unorganised sector
Definition	Businesses and jobs that are registered with the government and follow laws and regulations.	Businesses and jobs that are not registered with the government and do not follow labor laws strictly.
Job Security	Provides job security, fixed working hours, and retirement benefits.	No job security, irregular working hours, and no retirement benefits.
Wages & Benefits	Fixed wages, overtime pay, paid leave, provident fund, medical benefits.	Low wages, often paid daily, no additional benefits like medical insurance or pension.
Rules & Regulations	Follows laws such as Minimum Wages Act, Factories Act, Provident Fund Act.	Does not strictly follow government laws, and workers may face exploitation.
Working Conditions	Safe and healthy work environment with fixed hours and leave policies.	Poor working conditions, long hours, and no fixed holidays.
Examples	Government offices, banks, schools, large factories, IT companies.	Small shops, street vendors, domestic workers, agricultural laborers, construction workers.