service sector Current Affairs, GK & News

India’s services sector growth hits 7-year high in February

Purchasing Managers’ Index (PMI) is released by the data analytics firm IHS Markit. As per the survey, services sector of the country rose for the fifth consecutive month to 57.5 in February after 55.5 in January. A figure more than 50 signifies expansion, while below-50 figure identifies contraction. The service sector dipped to a 19-month ..

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India ranked third globally in number of new firms created

The Economic Survey 2019-20 presented on January 31, 2020 stated that India is ranked third globally in number of new firms created. It also revealed that as many as 1,24,000 new firms have been created in India in the year 2018 alone. The survey quoted this data on firm creation from the World Bank’s data ..

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Manufacturing Sector PMI Rises

The Nikkei India Manufacturing Purchasing Managers Index (PMI), improved to 52.7 in May from 51.8 in April. It was the strongest improvement in the health of the sector in three months. Purchasing Managers Index The Purchasing Managers’ Index (PMI) presents the prevailing direction of economic trends in the manufacturing and service sectors. It is a ..

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India to grow at 7.2 per cent in 2018-19: CSO

The Central Statistics Office has released the first advance estimates of National Income for 2018-19. The observations made by CSO are: Indian economy is expected to grow at 7.2 per cent in 2018-19, a tad higher from 6.7 per cent in the 2018-18. Real GVA (Gross Value Added) is expected to grow at 7 per ..

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Government approves Guidelines on service charge

Ministry of Food and Consumer Affairs has approved the ‘Guidelines on Fair Trade Practices Related to Charging of Service Charge from Consumers by Hotels and Restaurants’. As a part of the guidelines which has been issued in public interest to protect the rights of consumers, the government has said that Service charge on hotel and ..

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