The Aryavarth Express
Agency (New Delhi): The Ministry of Statistics and Programme Implementation (MoSPI) has disclosed the Annual Survey of Industries (ASI) results for the fiscal years 2020-21 and 2021-22. The survey, which encompassed April 2020 to March 2021 (ASI 2020-21) and April 2021 to March 2022 (ASI 2021-22), was conducted during April 2022 to November 2022 for ASI 2020-21, and March 2023 to September 2023 for ASI 2021-22. The initial part of the ASI 2020-21 period was notably impacted by the first wave of the Covid-19 pandemic, resulting in global disruptions. The ASI 2021-22 period partly coincided with the pandemic’s second wave, influencing the survey’s scheduling and execution.
The primary aim of the ASI is to provide a comprehensive analysis of the changes in the manufacturing industry regarding output, value added, employment, capital formation, and other crucial aspects. This data significantly contributes to National Accounts Statistics at both national and state levels. The latest results are available on the Ministry’s website.
Key insights from the ASI 2020-21 and ASI 2021-22 include:
The Gross Value Added (GVA) grew by 8.8% in 2020-21 over the previous year, primarily due to a significant decrease in inputs, which mitigated the output contraction during the pandemic. In 2021-22, the GVA witnessed a substantial increase of 26.6%, supported by over 35% growth in industrial output.
The 2021-22 fiscal year marked a notable increase in several economic parameters, surpassing pre-pandemic levels. These parameters include invested capital, input, output, GVA, net income, and net profit.
Key growth drivers in 2021-22 were industries like Basic Metal, Coke & Refined Petroleum Products, Pharmaceuticals, Motor Vehicles, Food Products, and Chemical Products. Collectively, these sectors contributed approximately 56% to the sector’s total GVA, with a GVA growth of 34.4% and output growth of 37.5% compared to 2020-21.
Despite a slight decline in employment in 2020-21 due to the pandemic, 2021-22 saw a robust 7.0% growth in employment year-on-year, exceeding pre-pandemic levels by over 9.35 lakh. Average emoluments also increased by 1.7% in 2020-21 and 8.3% in 2021-22.
The top five states contributing to GVA were Gujarat, Maharashtra, Tamil Nadu, Karnataka, and Uttar Pradesh, accounting for about 53% of the country’s total manufacturing GVA in both years. These states also led in employment, constituting about 54% of the sector’s total workforce.
The ASI survey employs a mixed strategy of census and sampling, with detailed information on coverage, sampling strategy, data collection mechanism, and survey disclaimer available on the Ministry’s website.
The value of key parameters from ASI 2017-18 to ASI 2021-22 in current prices is provided in the Ministry’s press release. This includes data on fixed capital, invested capital, total persons engaged, total emoluments, input, output, GVA, depreciation, and Net Value Added (NVA) for the respective years.
