14 service sectors grew in double digits in April as per inaugural Index of Services Production
In its inaugural release, the Index of Services Production (ISP) showed 14 service sub-sectors growing in double digits in April. The new index measures 19 sub-sectors that together account for about 60% of India's services sector, giving policymakers a dedicated high-frequency gauge of services output, much as the IIP does for industry.
Nabka Insight
A first-of-its-kind official index for services output — likely prelims fodder.
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- 14 service sub-sectors grew in double digits in April.
- The ISP is a new, inaugural index.
- It measures 19 sub-sectors.
- These cover about 60% of India's services sector.
Background
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