Services output in April expands at fastest rate in nearly 13 years
Despite the substantial uptick in new orders, staff levels in the service sector increased only marginally in April.
Despite the substantial uptick in new orders, staff levels in the service sector increased only marginally in April.
According to the report, close to 64% of employers in the services and manufacturing sector are keen to increase their resource pool across industries in the April to June period of FY23-24.
Merger deals in the financial year 2021-22 hit the lowest level in 8 years.
The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 56.4 in November to 58.5 in December.
This is the fastest increase in the services sector PMI since August, when it stood at 57.2. The services sector PMI for October stood at 55.1.
The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 54.3 in September from 57.2 in August.
India's net exports will shrink due to subdued global demand and a rising real effective exchange rate; manufacturing firms will bear the brunt of higher input costs, says ADB report
More subsidies and more welfarism will help the poor to survive but not solve the massive challenges that chronic job crisis and growing poverty have thrown up.
The growth will be spread across services sectors, with travel and tourism the only exceptions
The technology sector, which is one of the drivers of economic growth, wants fiscal measures, such as putting the services sector on a par with manufacturing, implemented in this year's Budget.