Many businessmen even claim that the size of the informal economy is almost double that of the formal economy, though they do not have any studies or research to support these claims. This ...

He added that numerous other large sectors exist in the informal economy, including automotive, construction, catering, car washes, and bakeries. “If you take a mirror to the formal economy ...

During the event, officials stressed the importance of moving informal businesses into the formal sector, explaining that registered companies gain better access to loans, government support ...

The rise is largely attributed to stronger inflows through formal channels ... This influx has offered a much-anticipated tonic to an economy under strain, with foreign exchange reserves under ...

This, they believe, would encourage more businesses to join the formal economy and improve documentation. The PCDMA strongly recommended the discontinuation of the Export Facilitation Scheme (EFS ...

Yet, the report focuses solely on the short-term gains of fiscal consolidation without addressing the consequences of suffocating the formal economy. To be fair, there is some success on the ...

Recent developments in legislation signal that integrating such ventures into the formal economy can become a transformative strategy for reducing unemployment and tackling multidimensional poverty.

This aimed to enhance tax compliance and bring more digital transactions into the formal economy. “If approved, an 18 per cent GST, the standard rate for most digital services, could be levied ...

These rumours raised concerns that the Government might be planning to bring high-value digital payments under the indirect tax framework to improve compliance and widen the formal economy.

By creating a regulated platform for crypto trading, the Central Bank and Finance Ministry aim to integrate digital assets into the formal economy, potentially reducing reliance on traditional ...