Breaking News

You are here » Indian-Commodity  :  Economy  :  Govt to release producers' price index for 10 services on trial basis in June

09-May2018

Govt to release producers' price index for 10 services on trial basis in June

The government will release a producers' price index (PPI) for ten services on trial basis in June 2018. The move will help track inflation in services including telecom, railways, ports, postal, insurance, banking, transportation and air travel. PPI measures the average movements of prices received by domestic producers for goods and services sold on the domestic or/and on the export markets.

Presently, wholesale price index (WPI) and consumer price index (CPI) are used for tracking price movement. The WPI measures price movement of goods in wholesale markets, while the CPI tracks inflation at retail level and also includes certain services. While the incidence of taxes are accounted for in WPI and CPI, the PPI would reflect the cost at producers point sans taxes.

In case of railways, price movement would be tracked for freight tariff and passenger fares. On the other hand, the index of banking would include direct services and fees. The PPI for services assumes importance the sector contributes about 60 percent in India's gross domestic product (GDP) growth.



Related News

View all news

P-notes investment jumps to Rs 78,110 crore at March-end

With positive market sentiments, the share of foreign portfolio investments (FPI) in domestic capital markets through participatory notes (P-notes) jumped to Rs 78,110 crore at the end of March. According......

India's steel demand may grow above 7% in 2019, 2020: World Steel Association

The World Steel Association in its latest report 'Short Range Outlook April 2019' has said India's steel demand is likely to grow above 7 per cent in the current year (2019) as well as next year (2020).......

India likely to receive 'near normal' monsoon in 2019: IMD

Easing concerns over farm and economic growth in the country, the India Meteorological Department (IMD) in Long Range Forecast for 2019 southwest monsoon rainfall stated that the country is likely to have......

Top News

View all news

Quess Corp, Ashoka Buildcon and ICICI Bank to see some action today

Quess Corp's subsidiary Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Quess Corp's arm to acquire majority stake in Allsec Technologies

Quess Corp's subsidiary -- Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Ashoka Buildcon's JV receives LoA from Rail Vikas Nigam

Ashoka Buildcon's Joint Venture (JV) -- ABL-STS JV, wherein the Company is lead member, has received a Letter of Award (LoA) from Rail Vikas Nigam (RVNL). The accepted Bid Value of the Project is Rs 443.23......