HE INFORMAL SECTOR in India dominates agriculture and allied services, the non-agricultural sector, and micro, small, and medium enterprises, except in finance, public administration, and defence, and the transport sector, excluding road transport. Currently, data on the sector is available from both the National Account Statistics (NAS) and the National Sample Survey Organisation (NSSO) for 2015-16 and 2022-23. The intervening period had demonetisation, introduction of a nation-wide goods and services tax, and the Covid-19 pandemic, which make the two points perfectly comparable.
The all-India survey of unincorporated enterprises excluding agriculture for 2015-16 estimated the total number of enterprises at 63.4 million in manufacturing, trade, and other services, employing a total of 111.3 million people. The fixed assets per establishment were estimated at ₹2.3 lakh and value added per enterprise at ₹1.8 lakh. In the survey for 2022-23, the number of establishments increased to 65 million (at an average annual rate of 0.4%) but employment declined to 109.6 million (at an average rate of 0.2%). Manufacturing enterprises faced the brunt of this decline. The value added per enterprise, value added per person employed, and fixed assets per enterprise show a moderate annual increase of 3.9%.
This story is from the December 30, 2024 edition of Financial Express Hyderabad.
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This story is from the December 30, 2024 edition of Financial Express Hyderabad.
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emissary he had deployed. Although sceptical, I bounded off to North Block and was ushered in. It was my first official meeting with the FM. I conveyed the request, not a direction, of the prime minister. Dr Singh was puzzled — I could see that on his face — by the message or, perhaps, the messenger. He listened politely and told me that the second step had already been taken within minutes of the markets opening at 10 am.
