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Manufacturing investments rose 20.9% in FY20 before Covid pandemic: ASI report.

Date: 18-08-2022
Subject: Manufacturing investments rose 20.9% in FY20 before Covid pandemic: ASI report
Manufacturing sector investments grew 20.9% in 2019-20 over the previous fiscal, the ministry of statistics and programme implementation said in its final Annual Survey of Industries (ASI) released on Wednesday. The provisional estimates in May had shown a 20% rise. The gross fixed capital formation (GFCF) in 2019-20 was Rs 4.16 lakh crore compared to Rs 3.44 lakh crore in FY19. There was a 1.7% increase in the number of factories in the country.

Employment in the corporate sector, which includes public and private, government and non-government companies, increased 5.5% to 97.02 lakh in 2019-20.

The survey results are for the year before the Covid-19 pandemic.

ASI, the principal source of industrial statistics in India, is the most comprehensive data on organised manufacturing. It covers all factories employing 10 or more workers using power and those employing 20 or more workers without using power. It excludes defense establishments, oil storage and distribution depots, restaurants, hotels, café and computer services, departmental units such as railway workshops.

Employment in individual proprietorship fell 3.1% to 11.36 lakh and in partnerships sector it declined 11.7% to 18.59 lakh, while that in limited liability partnerships, employment rose 42% to 1.22 lakh in FY20.

The rent payout, fuels consumed, interest paid, and profits fell.

Among states, the highest number of employment of workers in factories was in Tamil Nadu, followed by Gujarat and Maharashtra.

The number of workers rose 2.02% to 1.3 crore and the total wages provided to factory workers rose to Rs 2.29 lakh crore from Rs 2.15 lakh crore in the previous fiscal.

In FY20, the urban sector had 1.43 lakh factories employing 72.79 lakh workers while the rural sector had 1.03 lakh factories employing 57.78 lakh workers in 2019-20.

 Source Name:-Economic Times

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