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Formalisation of economy gradually picked up in May, EPF data shows

It appears formalisation of the economy is gradually choosing up tempo although it has not come again to the pre-Covid interval.

The internet subscriber base of the worker provident fund, broadly taken as indicator of formalisation of the economy, stood at 318,789, thrice the quantity in April.

The May quantity was additionally greater than the common month-to-month numbers in 2017-18 when it the data began to be compiled from September that 12 months.

However, there’s a lengthy solution to go it to to come back to the degrees of common numbers of 2018-19 and 2019-20.

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