The report estimated the share of the informal economy by using the recently released Annual Survey of Sector Unincorporated Enterprises (ASUSE).
"Assuming manufacturing as a proxy for industry gross value added (GVA) and trade and other services sector for services GVA, size of the total informal economy has declined in these seven years.
This translates into ₹26 trillion formalised in seven years," the report notes.
In absolute terms, the total amount of informal GVA increased to 58.4 trillion in FY23 from 18.6 trillion in FY16.
Of this, informal agriculture contributed ₹43 trillion, followed by informal services (11.8 trillion) and informal industry (3.6 trillion) in FY23.
Meanwhile, the share of informal agriculture in total GVA rose to 95.9 per cent in FY23 from 94.8 per cent in FY11.
Denne historien er fra June 22, 2024-utgaven av Business Standard.
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Denne historien er fra June 22, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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