Govt releases first services production index; 14 sub-sectors post double-digit growth

 India’s government has launched a new Index of Services Production. Fourteen of nineteen formal services sub-sectors showed double-digit growth in April. Accommodation and food services expanded significantly, leading the growth figures. Air and railway transport were the only sub-sectors to record declines. This index will now be released monthly to track economic activity. India’s government has launched a new Index of Services Production. Fourteen of nineteen formal services sub-sectors showed double-digit growth in April. Accommodation and food services expanded significantly, leading the growth figures. Air and railway transport were the only sub-sectors to record declines. This index will now be released monthly to track economic activity.