{"id":366003,"date":"2026-06-25T12:18:50","date_gmt":"2026-06-25T06:48:50","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=366003"},"modified":"2026-06-25T12:18:50","modified_gmt":"2026-06-25T06:48:50","slug":"index-of-services-production-isp","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/index-of-services-production-isp\/","title":{"rendered":"Index of Services Production (ISP)"},"content":{"rendered":"<div class=\"content-box-green\">\n<p><strong>News: <\/strong>The Ministry of Statistics and Programme Implementation (MoSPI) is set to launch the Index of Services Production (ISP) in July 2026.<\/p>\n<\/div>\n<h2 class=\"red-h2-box\"><strong>About Index of Services Production (ISP)<\/strong><\/h2>\n<figure id=\"attachment_366004\" aria-describedby=\"caption-attachment-366004\" style=\"width: 300px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-366004\" src=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/06\/Source-DD-News.jpg?resize=300%2C166&#038;ssl=1\" alt=\"Index of Services Production (ISP)\" width=\"300\" height=\"166\" srcset=\"https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/06\/Source-DD-News.jpg?resize=300%2C166&amp;ssl=1 300w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/06\/Source-DD-News.jpg?resize=768%2C426&amp;ssl=1 768w, https:\/\/i0.wp.com\/forumias.com\/blog\/wp-content\/uploads\/2026\/06\/Source-DD-News.jpg?w=877&amp;ssl=1 877w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-366004\" class=\"wp-caption-text\">Source &#8211; DD News<\/figcaption><\/figure>\n<ul>\n<li>The <strong>Index of Services Production (ISP)<\/strong> aims\u00a0<b>to monitor the progress of the services sector.\u00a0<\/b><\/li>\n<li><b>Proposed by:<\/b>\u00a0It is\u00a0<strong>proposed<\/strong>\u00a0by\u00a0the<b>\u00a0Ministry of Statistics and Programme Implementation (MoSPI).<\/b>\n<ul>\n<li>The proposed approach has been developed in reference to<b>\u00a0international best practices and in consultation\u00a0<\/b>with members of the<b>\u00a0Technical Advisory Committee on ISP (TAC-ISP).<\/b><\/li>\n<\/ul>\n<\/li>\n<li>It will complement the<b>\u00a0existing index of industrial production<\/b>\u00a0by offering high-frequency insights into the services economy.<\/li>\n<li><b>Base year:<\/b>\u00a0The index will adopt\u00a0<strong>2024\u201325 as its base year<\/strong>\u00a0and will largely depend on\u00a0<strong>data from the GST Network<\/strong>\u00a0as a primary input.<\/li>\n<li><b>Coverage:<\/b>\u00a0It will track\u00a0<b>key service segments<\/b>\u00a0such as trade, transport, banking, insurance, hospitality, real estate, and professional services.\n<ul>\n<li>It also<b>\u00a0examines data availability, coverage, and appropriate price deflators<\/b>\u00a0in line with international best practices.<\/li>\n<\/ul>\n<\/li>\n<li>It proposes<b>\u00a0to exclude services provided by the informal sector\u00a0<\/b>due to the paucity of data from the data sources under consideration.<\/li>\n<li>It also\u00a0<b>proposes a temporary exclusion of the health and education sector, which accounts for 10% of the services GVA<\/b>, till results of the annual survey of incorporated service sector enterprises (<strong>ASISSE<\/strong>) become available.<\/li>\n<li><b>Why is it needed:\u00a0<\/b>At present, India releases\u00a0<b>two major high-frequency (monthly) economic indicators:<\/b>\n<ul>\n<li>The<b>\u00a0Index of Industrial Production (IIP),\u00a0<\/b>which\u00a0<b>tracks monthly output in the industrial sector, including manufacturing, mining, and electricity.<\/b><\/li>\n<li>The\u00a0<b>Consumer Price Index (CPI),<\/b>\u00a0which\u00a0<b>measures retail inflation and serves as the basis for the country\u2019s headline inflation rate.<\/b><\/li>\n<li>But,\u00a0there is\u00a0<b>no Index of Service Production (ISP) to capture short-term movements in the services sector,<\/b>\u00a0and the<b>\u00a0unavailability of ISP created a critical data gap<\/b>\u00a0in assessing overall economic performance.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: The Ministry of Statistics and Programme Implementation (MoSPI) is set to launch the Index of Services Production (ISP) in July 2026. About Index of Services Production (ISP) The Index of Services Production (ISP) aims\u00a0to monitor the progress of the services sector.\u00a0 Proposed by:\u00a0It is\u00a0proposed\u00a0by\u00a0the\u00a0Ministry of Statistics and Programme Implementation (MoSPI). The proposed approach has&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/index-of-services-production-isp\/\">Continue reading <span class=\"screen-reader-text\">Index of Services Production (ISP)<\/span><\/a><\/p>\n","protected":false},"author":10393,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,1305,12039],"tags":[11872],"class_list":["post-366003","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-index-reports-bodies","category-knolls","tag-9pm-daily-factly","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/366003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10393"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=366003"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/366003\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=366003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=366003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=366003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}