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Government launches first trial Index of Services Production for formal services sector
The Indian government has launched its first trial Index of Services Production (ISP) for 19 sub-sectors, marking a significant milestone in measuring short-term activity within the formal services sector. With 2024-25 set as the base year, the inaugural index covers data from April 2026, representing nearly 60% of the country's services sector. This initiative is crucial for economic planning and analysis, enhancing the understanding of service sector dynamics.
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