Outline the concept of ‘informal economy’ in India.

The informal economy in India refers to the vast sector of economic activity that operates outside the regulatory framework of formal institutions. Unlike the formal economy, which is governed by well-defined rules and regulations such as labor laws, taxation, and social security systems, the informal economy is characterized by unregistered, unregulated, and often unreported activities. This sector plays a significant role in the Indian economy, providing livelihood to a large portion of the population, especially in rural areas and small towns.

The informal economy in India encompasses a wide range of activities, including street vending, small-scale manufacturing, agriculture, domestic work, construction, and services like housekeeping, transportation, and repair. Many of these jobs are low-skilled, low-wage, and often lack job security or benefits such as healthcare, pensions, and paid leave. The workforce in the ________ __________ ____ __________ ___ ________ __________.
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