"We are working on this index. There are issues like consistency of data on which we have to work...It would come in few months," Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek told reporters here.
The sector contributes about 60 per cent in the country's gross domestic product (GDP).
The index would capture movement of prices in various services like insurance, banking, transport and communication.
Currently, the price movement of goods and commodities is covered through the WPI and the consumer price index.
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