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Business Standard
30-04-2025
- Business
- Business Standard
Private limited companies dominate formal services, says NSO study
About 83 per cent corporate services entities were private limited companies during 2022-23 (FY23), shows a pilot study, the first of its kind, of India's services sector, conducted by the National Statistics Office (NSO). The results of the study were released on Wednesday. The trend is noticeable for all the broad categories, ie construction, trade, and other services. The survey, titled 'Pilot Study on Annual Survey of Services Sector Enterprises (ASSSE)', was conducted in two phases -- between May 2024 and August 2024 and between November 2024 and January 2025 -- using the Goods and Services Tax Network (GSTN) data as a frame to recognise enterprises. It was conducted for the incorporated services sector because the Annual Survey on Unincorporated Enterprises (ASUSE) gives insights into informal services. The data from the survey showed only 8.5 per cent services enterprises were 'public limited companies' and 7.9 per cent were 'limited liability partnerships' (LLPs). Also Read Besides, the study showed India's services sector was dominated by larger enterprises, valued at ₹500 crore or more. They contributed more than two-thirds of gross value added (GVA), despite being only 2.8 per cent of the services sector. Meanwhile, these large firms had a 62.3 per cent share of capex and a similar share in fixed assets. Their share in outstanding loans stood at 36.1 per cent, and in employment, it was less pronounced at 37 per cent. On the other hand, enterprises with output ranging between ₹100 crore and ₹500 crore represent 8 per cent of the total and contribute about 25 per cent of fixed assets, over 42 per cent of outstanding loans and around 20 per cent of GVA. In employment, their share was 33.7 per cent. Smaller companies, which were over half the surveyed firms, accounted for just 2.6 per cent of assets, 2.4 per cent of capex and 1.2 per cent of output. The study classifies smaller firms as those with an output of less than ₹10 crore. The NSO said in a statement that starting 2026 India would have detailed data on the contribution of formal services sector firms to the economy and employment, just like the Annual Survey of Industries (ASI) did for the industrial sector. This data will be vital because the services sector has more than a 60 per cent share in the economy. 'The pilot study confirmed the suitability of the GSTN database as a sampling frame for the survey,' said the NSO in a statement.
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Business Standard
30-04-2025
- Business
- Business Standard
About 83% corporate enterprises in services are private limited cos: NSO
About 83 per cent corporate services entities were private limited companies during 2022-23 (FY23), shows a pilot study, the first of its kind, of India's services sector, conducted by the National Statistics Office (NSO). The results of the study were released on Wednesday. The trend is noticeable for all the broad categories, ie construction, trade, and other services. The survey, titled 'Pilot Study on Annual Survey of Services Sector Enterprises (ASSSE)', was conducted in two phases -- between May 2024 and August 2024 and between November 2024 and January 2025 -- using the Goods and Services Tax Network (GSTN) data as a frame to recognise enterprises. It was conducted for the incorporated services sector because the Annual Survey on Unincorporated Enterprises (ASUSE) gives insights into informal services. The data from the survey showed only 8.5 per cent services enterprises were 'public limited companies' and 7.9 per cent were 'limited liability partnerships' (LLPs). Besides, the study showed India's services sector was dominated by larger enterprises, valued at ₹500 crore or more. They contributed more than two-thirds of gross value added (GVA), despite being only 2.8 per cent of the services sector. Meanwhile, these large firms had a 62.3 per cent share of capex and a similar share in fixed assets. Their share in outstanding loans stood at 36.1 per cent, and in employment, it was less pronounced at 37 per cent. On the other hand, enterprises with output ranging between ₹100 crore and ₹500 crore represent 8 per cent of the total and contribute about 25 per cent of fixed assets, over 42 per cent of outstanding loans and around 20 per cent of GVA. In employment, their share was 33.7 per cent. Smaller companies, which were over half the surveyed firms, accounted for just 2.6 per cent of assets, 2.4 per cent of capex and 1.2 per cent of output. The study classifies smaller firms as those with an output of less than ₹10 crore. The NSO said in a statement that starting 2026 India would have detailed data on the contribution of formal services sector firms to the economy and employment, just like the Annual Survey of Industries (ASI) did for the industrial sector. This data will be vital because the services sector has more than a 60 per cent share in the economy. 'The pilot study confirmed the suitability of the GSTN database as a sampling frame for the survey,' said the NSO in a statement.
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Business Standard
30-04-2025
- Business
- Business Standard
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.
Time of India
30-04-2025
- Business
- Time of India
Services sector enterprises with less than Rs 500 crore output account for 63% employment: Survey
Services sector enterprises with less than Rs 500 crore output accounted for 63.03 per cent of the total employment in the segment, according to a government survey released on Wednesday. The first pilot study on the Annual Survey of Services Sector Enterprises (ASSSE) conducted by the Ministry of Statistics & Programme Implementation revealed that larger enterprises with output Rs 500 crore and above dominate in terms of asset ownership (62.77 per cent), net fixed capital formation (62.73 per cent), gross value added (69.47 per cent) and total compensation (63.17 per cent). #Pahalgam Terrorist Attack A Chinese shadow falls on Pahalgam terror attack case probe How India can use water to pressure Pakistan Buzzkill: How India can dissolve the Pakistan problem, not just swat it The data also showed "that enterprises (having output below Rs 500 crore ) make up almost account for 63.03 per cent of total employment and 36.84 per cent of total compensation". According to the survey, 28.5 per cent of enterprises reported having additional places of business within the state. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Car Cleaner Works So Fast, It Feels Like Cheating Make Your Car Look Like New This percentage was observed to be the highest in the trade sector, with around 41.8 per cent of enterprises belonging to this sector reporting additional places of business in the state. The findings, which are based on the GSTN database, will provide a foundation for launching the full-scale annual survey, starting in January 2026, the statement said. Live Events A majority of the corporate entities in the pilot study on ASSSE are Private Limited Companies (82.40 per cent at the overall level) during FY 2022-23, followed by Public Limited Companies and Limited Liability Partnership (each having nearly 8 per cent share). Phase I of the pilot was conducted from May 2024 to August 2024 covering 10,005 enterprises primarily to verify and update address and activity information, along with collecting some quantitative information like gross sale value and employment. Phase-II of the pilot study was based on responses from 5,020 enterprises selected from the list of eligible enterprises of Phase-I took place from November 2024 to January 2025.
Business Standard
30-04-2025
- Business
- Business Standard
Ministry of Statistics releases findings of pilot study on Annual Survey of Services Sector Enterprises
Ministry of Statistics & Programme Implementation released findings of a pilot study on Annual Survey of Services Sector Enterprises (ASSSE) to capture insights into the Incorporated Service Sector. The pilot study covered those service sector enterprises from the GSTN database which are registered under Companies Act, 1956 or, Companies Act, 2013 or Limited Liability Partnership (LLP) Act, 2008. The pilot provides valuable operational insights and a foundation for launching a robust, full-scale annual survey of incorporated service sector enterprises from January 2026. It can be seen that majority of the corporate entities in the pilot study on ASSSE are Private Limited Companies (82.40% at overall level) during FY 2022-23 followed by Public Limited Company and Limited Liability Partnership (each having nearly 8% share). The same trend is noticeable for all the Broad Activity Categories (BAC) i.e., Construction, Trade and Other data reveals that larger enterprises with output Rupees 500 crores and above dominate in terms of asset ownership (62.77%), net fixed capital formation (62.73%), gross value added (69.47%) and total compensation (63.17%). Further, data also reveals that enterprises (having output below Rupees 500 crores) make up almost account for 63.03% of total employment and 36.84% of total compensation. Overall, 28.5% of enterprises reported having additional places of business within the state. This percentage was observed to be the highest in the Trade sector with around 41.8% of enterprises belonging to this sector reported additional places of business in the state.
