- The Annual Survey of Unincorporated Sector Enterprises (ASUSE) conducted by the National Sample Survey Office (NSSO) in 2021-22 and 2022-23 is released recently.
- According to the annual factsheet the second wave of the COVID-19 pandemic badly hit India’s large informal non-agricultural sector.
- It has recovered gradually since then, with the number of unincorporated firms and their employees rising almost 6% and 8%, respectively, by the latter half of 2022-23.
- Gross Value Added (GVA) by such enterprises grew by 9.83% at current prices during the period October 2022 and March 2023, in comparison with the financial year 2021-22.
- Between October 2022 and March 2023, the number of estimated informal firms had risen to 6.5 crore with 11 crore employees.
- This 7.84% annual growth in jobs demonstrates the sector’s capacity to generate employment.
- The survey data, released by the Statistics Ministry is used in compiling national account statistics as the country’s unincorporated non-farm sector plays a key role in generating jobs, creating economic value and the overall socio-economic landscape.
Dig Deeper: Read about various surveys and statistics released by NSSO.
