The trial Services Production Index offers a monthly view of the services sector, bringing greater visibility to India's biggest growth engine
April's data shows broad-based growth, indicating the services sector has remained resilient despite global uncertainties
GST data has enabled monthly tracking. Better price measures can further improve estimates of real services output
The index still relies on proxy price indicators. Producer price indices can make future readings more reliable
The index covers only the formal sector. Informal services and some key activities remain outside its scope
A wider coverage, cleaner data and regular refinement can turn this trial index into a reliable economic barometer