Labour as a factor of production is a valuable service rendered by a human agent in the production of goods and services. The outcome is generation of wealth and welfare. In common parlance, the term labour would cover manual and other kinds of services. Even in this day and age of increased automation in the production process, labour remains an important component. In India, the labour market basically constitutes the formal (organised) and informal (unorganised) sector. As per the Economic Survey 2019-20, total formal employment in India increased from eight per cent in 2011-12 to 9.98 per cent in 2017-18.