 "Employment up 5.7% but wages rose 16.9% in 2011-12: Survey")
The number of jobs in different industries increased by 5.77 percent while wages rose by 16.9 percent in real terms in 2011-12, says a government survey.
However, according to the Annual Survey of Industries (ASI), the gross capital formation declined by 8.66 percent to Rs 4.07 lakh crore in 2011-12 from Rs 4.45 lakh crore in the previous fiscal.
Total persons engaged in different industries were 1.33 crore in 2011-12 as compared to 1.27 crore in 2010-11, as per the survey released by the Ministry of Statistics and Programme Implementation.
[caption id=“attachment_1077981” align=“alignleft” width=“380”]  Reuters[/caption]
Total wages provided to factory workers jumped by almost 17 percent to Rs 99,855.99 crore in 2011-12 from Rs 85,645 crore in 2010-11. In the ASI 2011-12, the data collected from the respective industrial units relate to their accounting year ended on any day between April 1, 2011 and March 31, 2012.
The profitability of the factories increased by 15.64 per cent to Rs 4.51 lakh crore in 2011-12 from Rs 3.9 lakh crore in 2010-11.
The gross fixed capital formation increased by 21.28 per cent to Rs 3.44 lakh crore in 2011-12 from Rs 2.83 lakh crore in 2010-11.
The amount of interest paid by the factories increased by 37.07 percent to Rs 1.2 lakh crore in the year under review from Rs 88,020 crore in 2010-11.
The survey is conducted annually under the statutory provisions of the Collection of Statistics Act, 2008 and covers all factories employing 10 or more workers using power; and those employing 20 or more workers without using power.
The survey also covers bidi and cigar manufacturing establishments registered under the Bidi & Cigar Workers (Conditions of Employment) Act, 1966.
PTI
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