Context:
The Ministry of Statistics and Programme Implementation will release the first Index of Services Production for April 2026 on July 14, 2026. The index will measure short-term changes in India’s services-sector output with 2024–25 as the base year.
Explanation:
- Index of Services Production is a new macroeconomic indicator to track monthly growth in the services sector.
- It will act as the services-sector counterpart of the Index of Industrial Production, which measures industrial output.
- It will be released with a 60-day lag, generally on the 29th day of every month.
- The first release will cover April 2026 data and will be published on July 14, 2026.
- It is prepared by the Ministry of Statistics and Programme Implementation.
- The methodology was finalised with a Technical Advisory Committee constituted in May 2025.
- It will help improve tracking of services-led growth, GDP estimates, high-frequency economic monitoring and policy planning.
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