A STUDY ON SOCIAL SECURITY POLICY IN INDIA

Abstract

India is a developing nation with one sixth of the world human population. The social security plans
implemented in India have been post-independence and has been limited to organize and some
sections of the unorganized sector. Extending schemes for the formal sector into the informal sector
would bring quite instability in many formal and informal groups. This expands the need to address
both the formal and the informal sector, rather implementing same policies for both the groups.
Social security acts as an umbrella for people during adverse situations. Social welfare is not
possible without social security. It acts as a buffer against all odds in the time of need. It helps in
lifting millions of people out of poverty and thus, raises people’s standard of living.