'Jobs down, wages up in FY13'

The number of jobs in various industries decreased 3.6 per cent, whereas wages increased 11.1 per cent in real terms in 2012-13, says a government survey.

The total number of persons engaged in industries declined to 12.9 million in 2012-13 from 13.4 million in the previous financial year, Annual Survey of Industries has revealed.

Jobs had increased by 5.8 per cent in 2011-12 from 12.6 million in the previous financial year.

According to the survey, total wages provided to factory workers rose by 11.1 per cent in 2012-13 to Rs 1.10 lakh-crore from Rs 99,855.79 crore in 2011-12. The total wage bill had jumped by 16.6 per cent in 2011-12 from Rs 85,645 crore in 2010-11.
 

The gross capital formation, an indicator of investments, increased 9.31 per cent to Rs 4.44 lakh-crore in 2012-13 from Rs 4.07 lakh-crore in the previous financial year. However, it had come down in 2011-12 by 8.72 per cent from Rs 4.45 lakh-crore in the previous financial year.

Gross fixed capital formation, another measure to gauge level of fresh investments, increased 3.62 per cent to Rs 3.56 lakh-crore in 2012-13, from Rs 3.43 lakh-crore in the previous financial year. During 2011-12, it had grown at 21.21 per cent from Rs 2.83 lakh-crore.

The profitability of factories declined 4.72 per cent to Rs 4.3 lakh-crore in 2012-13 from Rs 4.51 crore in the previous financial year. During 2011-12, the profitability had increased 15.75 per cent from Rs 3.9 lakh-crore in 2010-11.

The net value added or output, which does not include input and depreciation, grew at 2.8 per cent to Rs 8.6 lakh-crore in the year under review, from Rs 8.36 lakh-crore in the previous financial year. However the net value had grown by 18.75 per cent in 2011-12 from Rs 7.04 lakh-crore in 2010-11.

Indian economy had grown at a decadal low of 4.5 per cent in 2012-13. The economic growth in 2013-14 was 4.7 per cent, it added.