The Index of Service Production is a proposed monthly indicator for measuring output in India’s services sector, similar to the Index of Industrial Production.

• Proposed by: It is proposed by the Ministry of Statistics and Programme Implementation (MoSPI)
• Developing Agency: National Statistical Office (NSO) under MoSPI 
• Base Year: 2024-25
• Coverage
  • It will track key service segments, including trade, transport, banking, insurance, hospitality, real estate, and professional services.
  • It also examines data availability, coverage, and appropriate price deflators in line with international best practices.
  • It proposes to exclude services provided by the informal sector due to the paucity of data from the data sources under consideration. 
  • It also proposes a temporary exclusion of the health and education sector, which accounts for 10% of the services GVA, till results of the annual survey of incorporated service sector enterprises (ASISSE) become available.

Source: The Hindu