💨 Abstract

The Annual Survey of Industries (ASI) 2022-23 reveals a decline in labor productivity and income levels in India. Wage growth has been slower than inflation, and value added per worker contracted in 2022-23. Many sectors with high employment rates contribute little to the economy's value, indicating low-value jobs for a significant part of the labor force.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖