Annual Survey Of Industries For 2020-22

Context:

The Ministry of Statistics and Programme Implementation (MoSPI) released Annual Survey of Industries 2020-2022

Annual Survey of Industries: It is the principal source of industrial statistics and data for the organised manufacturing sector.
- It relates to factories employing 10 or more workers using power and those employing 20 or more workers without using power.
- The survey also covers registered bidi and cigar manufacturing establishments.
- The investment figures in the ASI surveys are in current prices terms.
Summary: As per the Ministry the 2020-2022 survey exhibits the resilience of the Indian manufacturing sector after the adverse effect of pandemic witnessed in 2020-21 in terms of output and input contraction and also a marginal fall in employment.

Employment and Jobs: In the lockdown-affected year of 2020-21, jobs declined but then recovered in 2021-22 to levels higher than before the pandemic.
- Employees: In over 2.50 lakh factories,
  - 2020-21: It decreased to 1.60 crore from 1.66 crore in 2019-20,
  - 2021-22: It rose to 1.72 crore, with a CAGR of 1.7 per cent from the pre-pandemic year of 2019-20.
- Workers:
  - 2020-2021: It decreased to 1.26 crore from 1.31 core in 2019-2020 period.
  - 2021-22: It rose to 1.36 crore, with a CAGR growth of 2.1 per cent over these two years
- Corporate sector: It includes public and private government and non-government companies. The employment here rose by 1.6 per cent (CAGR) to over 1 crore in 2021-22. In the pre-pandemic year of 2019-20, it stood slightly over 97 lakh.
Gross Fixed Capital Formation:
- It declined 11% from the pre pandemic levels.
- 2020-21: It fell to Rs 3.14 lakh crore from Rs 4.17 lakh crore in the pre-pandemic year of 2019-20.
- 2021-22: The GFCF picked up marginally rising about 5 per cent from in 2020-21 to 3.30 lakh crores.
Net fixed capital formation: It declined by 54 per cent in 2021-22 as against the pre-pandemic year of 2019-20.

Gross Fixed Capital Formation

Definition: It measures the value of acquisitions of new or existing fixed assets by the business sector, governments, and “pure” households minus disposals of fixed assets.
Components: It includes land improvements cost; plant, machinery, and equipment purchases; and the construction of roads, railways and other infrastructure including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Net acquisitions of valuables are also considered capital formation.
Excludes: It excludes all kinds of financial assets as well as stocks of inventories and other operating costs plus land sales and purchases are also not included.

Gross capital formation: It includes outlays in addition to fixed assets and net change in inventories grew 29.5 per cent to 7.02 lakh crore in 2021-22.
Profits: Profits grew sharply for the pandemic-affected years, rising by 42.3 per cent (CAGR) to Rs 9.51 lakh crore in 2021-22 as against Rs 4.70 lakh crore in 2019-20.
Gross Value Added GVA:
- 2020-21 : It grew by 8.8% in current prices over 2019-20, mainly on account of sharp fall in input (4.1%) that more than offset an output contraction (1.9%) in the sector
- 2021-22: It grew significantly by 26.6% over 2020-21 riding on a high growth in the industrial output which grew by more than 35% in value terms.

News Source: The Indian Express

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