Significant growth in jobs and wages during UPA’s last year in office, govt survey

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The number of jobs in various industries had grown by 4.4 percent while the increase in wages rose by 14.05 percent in real terms in the last year of the UPA government, says a new government survey.

The UPA ledy by Manmohan Singh was in power in 2013-14, while the BJP led by Narendra Modi came to power in May 2014.

Quoting Annual Survey of Industries, the PTI reported that the total number of persons engaged in different industries in 2013-14 had increased to 1.35 crore from 1.29 crore in 2012-13,

The survey also added that the total wages provided to factory workers rose by 14.05 percent in 2013-14 to 1.26 lakh crore from Rs 1.10 lakh crore in 2012-13.

However, the gross capital formation, an indicator of investments, for the same period had declined by 5.62 percent to Rs 4.21 lakh crore in 2013-14 from 4.46 lakh crore in the previous fiscal.

On the other hand, the profitability of factories increased to Rs 4.53 lakh crore in 2013-14 from Rs 4.44 lakh crore in 2012-13.

During 2011-12, the profits were Rs 3.79 lakh crore.

The net value added or output, which does not include input and depreciation, had also increased to Rs 9.09 lakh crore in the year under review, from Rs 8.51 lakh crore in the previous fiscal. The net value was Rs 7.64 lakh crore in 2011-12.

Indian economy had grown at 6.6 per in 2013-14 when the UPA left office.

(Photo: Livemint)

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