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Enterprises with output below Rs 500 cr account for 63% of employment
Enterprises with output more than ₹500 crore accounted for more than 63 per cent of total employment in India, as per the data released by the Ministry of Statistics and Programme Implementation.
The data was released by the government as part of the Pilot Study on Annual Survey of Services Sector Enterprises. The govt aims to capture insights into the Incorporated Service Sector.
The data indicates that large enterprises—those with an output of ₹500 crores and above—hold a dominant share in several key economic indicators: they account for 62.77 per cent of total asset ownership, 62.73 per cent of net fixed capital formation, 69.47 per cent of gross value added, and 63.17 per cent of total compensation.
The data also indicates that during FY 2022–23, the majority of corporate entities in the ASSSE pilot study were Private Limited Companies, comprising 82.40 per cent at the aggregate level. These were followed by Public Limited Companies and Limited Liability Partnerships, each representing nearly 8 per cent. This pattern is consistent across all Broad Activity Categories (BAC), namely Construction, Trade, and Other Services.
The data also showed that 28.5 per cent of the enterprises overall reported having additional business locations within the same state. This proportion was highest in the Trade sector, where approximately 41.8 per cent of enterprises reported such additional business premises. 'As per GSTN nomenclature, the term 'enterprise' is analogous to 'principal place of business', which may have one or more 'additional places of business' (establishments) in the state,' the government clarified.
While conducting the survey, the government encountered several challenges. Although most enterprises were found to be existing and operational, 'challenges were faced in bifurcating the GSTIN-level information pertaining to the selected enterprises from pan-India centralized records (often CIN-based) maintained at the headquarter level,' the government said.
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Indian Express
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The questions on pension, rent, remittances etc. have been introduced to collect information at the household level on earning from different sources like rent from land and building, pension, remittances etc. These questions are essentially included to have a better explanation of the activity participation of the population as many times persons may be found to be having pension, remittances etc. to support them. However, it is worthwhile to mention that these questions are not incorporated to generate household level income estimates as the same require a detailed focused enquiry. Regarding challenges, some difficulties were faced by the surveyors while collecting information on household earning through interest in savings and investment only. No other difficulty has been faced in collecting information with respect to the new additional items included in PLFS schedule till date. Aanchal Magazine is Senior Assistant Editor with The Indian Express and reports on the macro economy and fiscal policy, with a special focus on economic science, labour trends, taxation and revenue metrics. With over 13 years of newsroom experience, she has also reported in detail on macroeconomic data such as trends and policy actions related to inflation, GDP growth and fiscal arithmetic. Interested in the history of her homeland, Kashmir, she likes to read about its culture and tradition in her spare time, along with trying to map the journeys of displacement from there. ... Read More
Hans India
a day ago
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We are currently near Japan economy GDP at $4.4 trillion and if we are able to sustain and enhance the current level of GDP growth, we will be shortly crossing the Japan economy and we may in future by 2027 cross the GDP of German economy, the third largest economy globally, which currently stands at $4.9 is gratifying to observe the fastest 105 per cent growth of India in 10 years is highest as compared to 66 per cent US, 76 per cent China, 44 per cent Germany with growth of 58 per cent Australia, 50 per cent Spain, 57 per cent Russia, 44 per cent Canada. The current growth in advanced economies has of late been slowing down due to earlier stated uncertainties along with high fiscal deficit as well high debt and need to allocate higher funds for defence which restricts the funds for development. 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According to be working paper authors Major General K Narayan, and Darpajit Sengupta, these pillars are interdependent and essential for building a resilient, inclusive and influential India on a global stage. In the current scenario where globally a lot of adverse factors and challenges affecting the world growth, in our pursuit of Viksit Bharat, we must focus on India's strong macro-economic fundamentals and opportunities, both domestically and globally, with positive and favourable liberalised policy support. We must get into sustainable, inclusive, productive, innovative, technological strong, human capital, bring the source of strength, new drivers of long-term growth, financially strong India. The commitment to Viksit Bharat should be stronger and all enablers and newer prospectus are to be harnessed and domestic and global opportunities to be tapped with our strong leadership approach and involvement and engagement of all for inclusive and sustainable developed India. The road map and strategies are to be monitored and both Centre and States' proactiveness and private sector active participation will make it a reality.
