Government plans new indices to track informal mfg, services

NEW DELHI: Soon after the overhaul of index of industrial production (IIP) for the formal sector, govt machinery is preparing to enter the statistical blind spot of the vast informal economy. The statistics ministry is finalising plans to launch an entirely new index designed to measure monthly industrial production, specifically for the country's vast informal manufacturing sector, along with a parallel index tracking production and economic output across the informal service sector, officials told TOI.

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