MoSPI releases trial Index of Services Production (ISP) and undertakes surveys to measure service-sector activity
MoSPI released a trial Index of Services Production (ISP) and announced surveys for incorporated and unincorporated service-sector activity measurement.
- ISP is a monthly index that tries to measure services production using recorded sales signals from GST and other administrative data.
- GST outward supplies means invoices/supplies reported when businesses sell services, which can act as a proxy for service activity.
- ISP targets the formal sector, while Annual Survey of Incorporated Service Sector Enterprises (ASISSE) covers incorporated services and Annual Survey of Unincorporated Sector Enterprises (ASUSE) covers unincorporated services.
- Deflators remove price effects so changes in the index reflect quantity/output trends rather than only price changes.
What happened: MoSPI released the trial Index of Services Production (ISP)
MoSPI released the trial Index of Services Production (ISP) on 14.07.2026. The trial ISP is designed to capture services output for the formal sector and to test the methodology before full rollout.
MoSPI compiles the trial ISP using 19 service sub-sectors. MoSPI uses GST outward supplies data and other administrative data provided by source agencies on a monthly basis.
UPSC can frame the trial Index of Services Production (ISP) as an attempt to measure formal-sector services output using monthly GST outward supplies and administrative data, while retaining survey-based coverage for incorporated and unincorporated services through ASISSE and ASUSE.
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