Context:
The Ministry of Statistics and Programme Implementation (MoSPI) released Annual Survey of Industries 2020-2022
Annual Survey of Industries 2020-22
- 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.
Key Highlights of Annual Survey of Industries 2020-22
- 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.
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- 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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February 6, 2024