Annual Survey of Industries 2013-14

Ministry of Statistics and Programme Implementation of the Government of India had released this report on April 27, 2016. I happened to see it a month later. Figure 3 in Section 3 of the report (page 35 in the PDF file, ‘Annual Survey of Industries 2013-14 – Summary Results of the Factory Sector’) provides a useful summary of the extent of activity in the Factory sector. The visual presentation of the chart could do with a lot of improvement, however.

India_Persons employed in Indian factories_2013-14

Persons employed in the Factory Sector contracted 3.6% in 2012-13. That is the year in which the Indian economy had recorded a growth rate of 5.6% according to CSO, revised higher from the earlier reports of 4%+ growth rates.

Just to refresh memories, the originally reported real GDP growth rates for 2012-13 and 2013-14 under the old series (base year 2004-05) were 4.5% and 4.7% respectively. See here.

The growth rate of 4.5% for 2012-13 got revised to 4.9% first and now it is 5.6%. For 2013-14, 4.7% got revised to 6.6% and stays there. These estimates for 2012-13 and 2013-14 fail the test of credibility and consistency with other high-frequent indicators of the economy.

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