Introduction
The Ministry of Statistics & Programme Implementation (MoSPI) has initiated the compilation of the Index of Services Production (ISP) as a crucial indicator for the services sector, which contributes over 50% to India's Gross Value Added (GVA).
Data Sources
The emergence of GST data has significantly changed India's statistical framework. Monthly GST returns filed by businesses provide detailed insights into economic activity, particularly for market-based services. This data assists in estimating real changes in service sector output.
Technical Advisory Committee
Related current affairs
- dovish RBI core inflation views; 89% of CPI items see higher prices in June vs May (chart/summary)
- SAIL declares financial results for Q1 FY27; profit rises sharply
- India’s cotton production, prices, imports and Mission for Cotton Productivity (Kapas Kanti)
- Implementation updates and impact findings of the PM SVANidhi scheme
- Economic commentary column on policy, banking, and investment trends
- Govt appoints Arun Aishnaw as new CEA