3 January 2025 : PIB Summary For UPSC

1. Key Insights from ASUSE 2023-24

(Source – https://pib.gov.in/PressReleseDetail.aspx?PRID=2089569&reg=3&lang=1 )

Topic: GS3 – Indian Economy

Context

The Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2023-24 report highlights significant growth in establishments, employment, productivity, and digital adoption in India’s unincorporated sector.

 Sectoral Growth

• The unincorporated sector in India has shown substantial growth, with the number of establishments rising from 6.50 crore in 2022-23 to 7.34 crore in 2023-24, marking an impressive 12.84% increase.
• The “Other Services” sector led this growth with a significant 23.55% increase in the number of establishments, while the manufacturing sector saw a 13% rise.
• The Gross Value Added (GVA) of the sector, an important economic performance indicator, grew by 16.52%. This growth was primarily driven by the 26.17% increase in the “Other Services” sector.

Labour Market Expansion

• Employment in the unincorporated sector increased substantially, reaching over 12 crore workers in 2023-24, reflecting an addition of more than one crore workers compared to the previous year.
• Gender inclusivity improved, with the percentage of female-owned proprietary establishments rising from 22.9% in 2022-23 to 26.2% in 2023-24.
• The average emoluments per hired worker grew by 13%, indicating improved wage levels. The manufacturing sector experienced the highest wage growth at over 16%.

Labour Productivity

• Gross Value Added (GVA) per worker, a key measure of labour productivity, increased by 5.62%, rising from Rs. 1,41,769 in 2022-23 to Rs. 1,49,742 in 2023-24.
• Similarly, the Gross Value of Output (GVO) per establishment grew from Rs. 4,63,389 to Rs. 4,91,862, reflecting overall sectoral productivity improvements.

Digital Adoption

• Digital adoption among establishments saw a notable rise, with internet usage increasing from 21.1% in 2022-23 to 26.7% in 2023-24, highlighting the growing role of digital tools in business operations.

Conclusion

• The ASUSE 2023-24 results underscore the unincorporated sector’s significant contribution to India’s economic recovery, marked by growth in establishments, employment, productivity, and digital adoption.

Practice Question:  Discuss the recent trends and improvements observed in the unincorporated non-agricultural sector as highlighted by the Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2023-24. (150 Words /10 marks)

 

For more such UPSC related Current Affairs, Check Out – PIB: January 02, 2025