Index of Services Production Latest News
The Ministry of Statistics and Programme Implementation (MoSPI) is preparing to launch Index of Services Production (ISP) in July, 2026.
About Index of Services Production
- It is a short-term indicator designed to measure changes over time in the volume of output produced by the services sector relative to a specified base period.
- It measures changes in the real output of service-producing industries over time.
- It is being developed with 2024-25 as the proposed base year and will primarily use Goods and Services Tax (GST) data to track activity.
- Principal Data Sources
- Administrative data for sectors such as air transport, railways, banking, and insurance
- GST data for wholesale and retail trade, hospitality, road and water transport, warehousing, telecommunications, real estate, information technology services, professional services, and entertainment
- Annual Survey of Incorporated Services Sector Enterprises (ASISSE) data for health and education services, which are expected to be incorporated into the framework at a later stage.
- It will primarily reflect the formal sector as it is compiled using outward supply of enterprises registered under GST.
- Weights assigned in ISP: Weights are based on sectoral contributions to Gross Value Added (GVA) available from National Account Statistics.
Source: PIB
Last updated on June, 2026
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Index of Services Production FAQs
Q1. What is the base year for ISP?+
Q2. Which data source will ISP primarily use?+
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