Ministry of Statistics releases experimental Index of Services Production (ISP)
UPSC / SSC current affairs note · Economy
Why in news
The Ministry of Statistics and Programme Implementation released an experimental Index of Services Production (ISP) on 14 July 2026. This index aims to measure the output of the formal services sector, complementing existing surveys for the corporate and unincorporated sectors.
Background
The Ministry conducts the Annual Survey of Unincorporated Sector Enterprises (ASUSE) to assess the unincorporated sector, and the Annual Survey of Services Sector Enterprises (ASISSE) for the corporate services sector. The new ISP fills a gap for a monthly indicator of services production.
Key facts
The experimental Index of Services Production (ISP) was released on 14 July 2026 by the Ministry of Statistics and Programme Implementation.
ISP is compiled for 19 sub-sectors using data from GST outward supplies and other administrative data from source agencies.
The index is released on a trial basis to gather methodological feedback from stakeholders, academics, and researchers.
Techniques to test ISP stability include use of appropriate deflators and verification of trends with secondary data sources.
ISP covers the formal sector of the economy, while ASISSE covers the corporate services sector and ASUSE covers the unincorporated sector.
ASUSE (Annual Survey of Unincorporated Sector Enterprises) provides quarterly and annual results for the unincorporated sector.
The information was provided by Minister of State Rao Inderjit Singh in Rajya Sabha.
Prelims pointers
- Index of Services Production (ISP) - experimental index
- 19 sub-sectors covered in ISP
- Data sources: GST outward supplies and administrative data
- ASUSE - Annual Survey of Unincorporated Sector Enterprises
- ASISSE - Annual Survey of Services Sector Enterprises
- Ministry of Statistics and Programme Implementation (MoSPI)
- Rao Inderjit Singh - Minister of State (Independent Charge) for Statistics and Programme Implementation
Mains angles
- Discuss the significance of measuring services sector output in India's GDP.
- Examine the challenges in capturing data from the unorganized sector and how surveys like ASUSE address them.
- Evaluate the role of administrative data (e.g., GST) in improving economic statistics.