India to Launch Index of Services Production (ISP) with 2024-25 Base Year
| Category | Details |
|---|---|
| Event | Ministry of Statistics and Programme Implementation (MoSPI) releases report on Index of Services Production (ISP). |
| Purpose | ISP will serve as a high-frequency monthly indicator to measure performance of India's services sector (contributes 53% of GVA). |
| Base Year | 2024-25 (reflects latest economic structure). |
| Key Features | - Laspeyres Volume Index methodology.- Compilation at 2-digit NIC 2025 level.- Aggregation using GVA weights.- Monthly compilation, released within 60 days of reference month. |
| Data Sources | - GST Data (primary source for market-based services).- Administrative Data (Railways, Aviation, Banking, Insurance).- ASISSE (Health, Education). |
| Committee | Technical Advisory Committee on ISP (TAC-ISP) constituted in May 2025, chaired by Ms. Debjani Ghosh (NITI Aayog). |