whispers in the corridors
India starts monthly Services Production Index for first time
To strengthen India’s macroeconomic indicators, the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday released the country’s first trial Index of Services Production (ISP) for 19 sub-sectors, providing, for the first time, a monthly measure of short-term activity in the formal services sector. The inaugural index, with 2024-25 as the base year, covers April 2026 and accounts for nearly 60 per cent of India’s services sector.The overall Index of Services Production will be introduced at a later stage after assessing the stability of the trial series and expanding coverage.
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