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| Price index for services sector likely in 6 months |
| Press Trust Of India / New Delhi Aug 10, 2009, 00:51 IST |
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Price variation in sectors like railways, telecom to be covered.
The government is likely to come up with an index in the next six months to track price variation in the services sectors like telecom and railways.
The services price index is expected to be on the lines of the wholesale price index or the consumer price index and would measure price movement within the sector.
“We have identified 10 sectors that form part of the Services Price Index ... Sectoral study is being done,” official sources said.
The index for the telecom sector is almost complete, while the railways is doing it in-house. Sources say the index for these two sectors would be out in the next 6 months.
Last year, the Department of Industrial Policy and Promotion (DIPP), under the Ministry of Commerce and Industry, had set up an expert committee for developing the index.
The committee, headed by C P Chandrasekhar of the Centre for Economic Studies and Planning, Jawaharlal Nehru University, submitted its report on the concept, methodology, coverage and other related aspects for the services sector index last week, sources added.
The commerce ministry has appointed consultants who have collected data for 2003-07.
The government is in the process of collecting data for 2007, which will later be presented to the working group headed by Planning Commission Member Abhijit Sen, sources said.
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