ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Expansive Social Security Programmes a Top Priority

Growing market uncertainties and recurring calamities demand higher social security.

The world over, social security programmes received a big boost in the decades after the world wars. Generally, the early years’ policies have focused on old-age benefits and universal health coverage (UHC). Today, around three-fourths of the global population receive old-age benefits and two-thirds enjoy UHC. Other major social security programmes that are popular globally include security against unemployment (18.6%), for children (26.4%), vulnerable persons (28.9%), pensions for the labour force (32.5%), benefits for the disabled (33.5%), compensation for work injuries (35.4%), and welfare of mothers with newborn children (44.9%).

Two recent reports of the International Labour Organization (ILO) have once again brought to the fore the shocking level of social security deficit in the country. According to the reports, the share of Indians who enjoy at least one social security benefit was just 24.4%. This falls far short of the Asia-Pacific region average of 44.1% and the global achievement of 46.9%. Countries in the neighbourhood like Malaysia, Indonesia, Bangladesh, Sri Lanka, Philippines, Vietnam, and Thailand have registered substantially higher achievements. The share of population covered by at least one social security programme is in the 70%–90% range in BRIC (Brazil, Russia, India, and China) countries. And it covered three-fourths of the population in the United States (US) and almost 100% in France and Germany.

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Updated On : 17th Sep, 2022
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