ASUSE Results for 2023-24: Job Creation Slowed in Unincorporated non-agricultural Sector

Current Context: The Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2023-24 results were released by the Ministry of Statistics and Programme Implementation (MoSPI) on December 24, 2024.

• Here are some key points:
• Overview
• Time Period: October 2023 to September 2024
• Sector: Unincorporated non-agricultural enterprises (excluding construction)
• Key Findings
• Job Creation: The sector added 1.1 crore jobs, but the rate of job creation slowed compared to the previous year.
• Establishments: The number of establishments increased from 65 million in 2022-23 to 73.4 million in 2023-24, a growth of 12.8%.
• Wage Growth: Nominal wage growth was 13%, but adjusted for inflation (retail inflation averaged 4.9%), the real wage growth was lower.
• Gross Value Added (GVA): GVA grew by 16.5%, indicating economic resilience in the sector.
• Female Entrepreneurship: The percentage of female-owned proprietary establishments increased from 22.9% to 26.2%.

Question:

1 What was the average retail inflation during the ASUSE 2023-24 survey period?

• A) 3.5%
• B) 4.9%
• C) 5.2%
• D) 6.0%

Answer: B) The survey mentions that retail inflation averaged 4.9% during the period, which impacted real wage growth despite nominal wage growth being 13%.