Annual Survey of Industries (ASI)
Source: PIB
GS II: IIssues relating to development and management of Social Sector/Services relating to Health, Education, Human Resources
Overview
- About Annual Survey of Industries (ASI)
Why in the News?
Annual Survey of Industries (ASI) for the years 2020-21 and 2021-22 revealed significant growth across various parameters in the manufacturing sector.
About Annual Survey of Industries (ASI)
- These studies include factories employing 10 or more workers with power and those employing 20 or more people without power.
- As such, they provide an important source of information about the economy’s registered organised manufacturing sector.
Importance of Year: Because both of these years — 2020-21 and 2021-22 — were distinguished by disruptions in economic activity as a result of the pandemic, these surveys, which provide specific data, aid in understanding how the industry fared during those years.
Findings
- At the aggregate level, gross value added grew by 8.8 per cent in 2020-21 (in current prices), after registering a fall the year before.
- Growth in value-added was driven by a sharper fall in input (at 4.07 per cent) than output (which fell by 1.9 per cent).
- In 2021-22, as the economy rebounded, value added grew by 26.6 per cent, with output growing at 35.4 per cent.
- In both these years, the registered organised manufacturing sector grew at a faster pace than the unorganised sector.
- The industries that drove growth during 2021-22 were the manufacture of basic metal, coke and refined petroleum products, pharmaceuticals, motor vehicles, and chemicals — value added by these industries grew by 34.4 per cent.
- Profits, which were also depressed in 2019-20, bounced back during this period.
- The estimates of employment show that during the first year of the pandemic, total persons engaged fell marginally by 3.2 per cent — from 1.66 crore in 2019-20 to 1.6 crore in 2020-21.
- Employment picked up thereafter, with total persons engaged rising to 1.7 crore in 2021-22 — an increase of 7 per cent.
- The pace at which quality jobs are being generated across all sectors at the aggregate all-India level leaves much to be desired.
- Between 2017-18 and 2022-23, while the labour force participation rate (15 years and above) saw a steady increase, rising from 49.8 per cent to 57.9 per cent, a greater percentage of workers were self-employed, not engaged in regular salaried or casual wage employment, as per the periodic labour force surveys.