ASUSE 2023-24 Report
Source: PIB
GS II: Government policies and interventions for development in various sectors and issues arising out of their design and implementation
Overview
- News in Brief
- Key Facts in the report
Why in the News?
Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2023-24 report released.
News in Brief
- Ministry of Statistics and Programme Implementation (MoSPI) has released the results.
- It covering the reference period October 2023 to September 2024.
- Survey sheds light on the economic and operational dynamics of the unincorporated non-agricultural sector, highlighting its critical contribution to employment, Gross Domestic Product (GDP), and the overall socio-economic landscape of India.
Key Facts in the report
Sectoral Growth
- The unincorporated sector has shown robust growth, with the number of establishments rising from 6.50 crore in 2022-23 to 7.34 crore in 2023-24, a remarkable 12.84% increase.
- The number of establishments in the “Other Services” sector recorded a growth of 23.55% followed by a 13% increase witnessed by the manufacturing sector.
- During the same period, the Gross Value Added (GVA) which is a key indicator of economic performance rose by 16.52% driven by a 26.17% growth in ‘other services’ sector.
Labour Market Expansion
- Growth: Employment in the sector grew significantly, with over 12 crore workers employed in 2023-24, an increase of more than one crore from the previous year.
- The Other Services sector led the way with a 17.86% growth in employment, followed by a 10.03% rise in the manufacturing sector.
- Women: The sector also marked a milestone in gender inclusivity, with female-owned proprietary establishments increasing from 22.9% in 2022-23 to 26.2% in 2023-24.
- Average emoluments per hired worker increased by 13%, reflecting improved wage levels and strengthening economic demand.
- The manufacturing sector reported the highest wage growth, exceeding 16%.
Labour productivity
- Gross Value Added (GVA) per worker which is a measure of labour productivity of the sector shows 5.62% increase.
- During the same period, the Gross Value of Output (GVO) per establishment also increased from Rs. 4,63,389 to Rs. 4,91,862 in current price.
Digital Adoption
- Internet usage among establishments increased from 21.1% in 2022-23 to 26.7% in 2023-24.
- This trend highlights the growing reliance on digital tools for business operations.
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