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India's Services Purchasing Managers’ Index (PMI) fell to 57.5 in March, indicating the slowest growth in 14 months.
Despite the overall slowdown, international orders for Indian services recorded a significant, near-series peak increase.
Input cost inflation in the services sector accelerated to its highest level since mid-2022, signaling rising cost pressures.
The National Statistics Office (NSO) launched the first-ever Annual Survey of Incorporated Services Sector Enterprises (ASISSE) from April 2026 to build a comprehensive database.
The PMI is a leading economic indicator derived from monthly surveys of private sector companies. It provides insights into current and future business conditions across manufacturing and services sectors. A reading above 50 indicates expansion, below 50 indicates contraction, and 50 indicates no change in activity compared to the previous month. It covers aspects like new orders, output, employment, and prices.
Simple Analogy: Think of PMI as a monthly health report card for businesses. If the score is above 50, businesses are growing; below 50, they are shrinking; and at 50, they are stable.
A global provider of financial information and analytics, responsible for compiling the PMI data for HSBC.
Part of the Ministry of Statistics and Programme Implementation (MoSPI), responsible for conducting large-scale sample surveys, compiling national accounts, and collecting industrial statistics. It launched ASISSE.
PMI data, especially on inflation and growth, influences the RBI's decisions on interest rates and liquidity management.
The performance of the services sector directly impacts India's overall Gross Domestic Product (GDP) growth rate.
Strong services exports contribute positively to India's current account balance and foreign exchange reserves.
Many service enterprises fall under the Micro, Small, and Medium Enterprises (MSME) category, making their performance crucial for overall economic health and employment.
GS-III: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment; Inflation; Balance of Payments.
General Awareness: Indian Economy, Current Affairs.
Economic & Financial Awareness, Current Affairs.
General Awareness: Indian Economy, Current Affairs.
Consider the following statements with reference to India: 1. According to the 'Micro, Small and Medium Enterprises Development (MSMED) Act, 2006', the 'medium enterprises' are those with investments in plant and machinery between ₹15 crore and ₹25 crore. 2. All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector. Which of the statements given above is/are correct?
Answer: Neither 1 nor 2
Which of the following activities constitute real sector in the economy? 1. Farmers harvesting their crops 2. Textile mills converting raw cotton into fabrics 3. A commercial bank lending money to a trading company 4. A corporate body issuing Rupee Denominated Bonds overseas Select the correct answer using the code given below:
Answer: 1 and 2 only
With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct? 1. The Governor of RBI is the Chairman of BBB. 2. BBB recommends for the selection of heads for Public Sector Banks. 3. BBB helps the Public Sector Banks in developing strategies and capital raising plans. Select the correct answer using the code given below:
Answer: 2 and 3 only
High for economic indicators and government initiatives.
An economic indicator derived from monthly surveys, reflecting business conditions.
The tertiary sector of the economy, providing services rather than goods.
The rate at which the costs of raw materials, labor, and other inputs for production are increasing.
A new nationwide survey by NSO to collect comprehensive data on incorporated services sector enterprises.