Capital invest by unincorporated cos slow down 2023-24, fixed assets rise 2%
This story was originally published at 18:02 IST on 29 January 2025
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NEW DELHI – Unincorporated establishments' capital investments saw a marginal rise in 2023-24 (Oct-Sept) as their average fixed assets rose just 1.9% on year to INR 324,075, according to the Annual Survey of Unincorporated Sector Enterprises, the full results of which were released Wednesday.
The growth in average fixed assets in 2023-24 was much lower than in the previous year. In 2022-23, fixed assets rose 13.2% on year to INR 318,144 from assets worth INR 281,013 owned in 2021-22.
The modest rise in fixed assets in 2023-24 likely hit productivity in India's unincorporated sector, whose annual gross value added per establishment rose just 3.2% on year to INR 245,687. The annual gross value added per establishment, a measure of productivity, fell 6.7% to INR 188,789 for the manufacturing sector in 2023-24. For the trade sector, the annual gross value added per establishment rose 11.6% on year to INR 273,778.
The use of the internet by unincorporated establishments increased in 2023-24, with 26.7% of the total establishments using the internet for the purpose of entrepreneurial activities compared to 21.1% in 2022-23.
Outstanding loans per establishment, on an average, increased 7.1% to INR 53,710 in 2023-24. Among major states, Kerala had the highest outstanding loan per establishment at INR 181,918, followed by Rajasthan and Andhra Pradesh.
The unincorporated sector employed 120.60 million workers in 2023-24, up 10.0% from a year ago, as per the survey. The growth rates in workers employed was 10.0% in the manufacturing sector, 1.9% in the trade sector, and 17.9% in the other services sector. End
Reported by Shubham Rana
Edited by Tanima Banerjee
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