India to Launch Monthly Services Output Index Within Months

The ministry is deciding whether to include sectors such as health and education before launching the composite index. The timeline depends on reliable data, Garg said. He added that the headline index could initially use the existing 19 sectors while work continues to expand coverage beyond the current 60% of the formal services economy.

The trial data showed broad-based growth in April. Fourteen of the 19 sub-sectors posted double-digit annual gains, led by accommodation and food services, retail trade and administrative services. Air transport contracted. Railway transport was broadly flat.

Garg said the monthly services index, together with labour, industrial and infrastructure indicators, would strengthen the government's ability to assess economic activity in real time and improve the compilation of quarterly national accounts. "I am sure it will help in improving the robustness of the GDP number," he said.