The Technical Advisory Committee has recommended which year as the base year for the proposed Index of Services Production (ISP)?

Question

TodaySprint · Accepted Answer

The correct answer is Option E: 2024–25. The Ministry of Statistics and Programme Implementation (MoSPI) has proposed the Index of Services Production (ISP) as India's first comprehensive monthly indicator for the formal services sector. The base year for the proposed Index of Services Production (ISP) is 2024–25, and its trial release is scheduled for 14 July 2026. The Index of Services Production (ISP) will measure short-term changes in the output of India's formal services sector and complement the Index of Industrial Production (IIP). The services sector contributes nearly 53% of India's Gross Value Added (GVA), making it the largest contributor to the country's economy. The proposed Index of Services Production (ISP) will use the Laspeyres Volume Index methodology, 2-digit NIC 2025 classification, and Gross Value Added (GVA) weights for compilation. GST data will serve as the primary source for market-based services, while administrative datasets and Annual Survey of Service Sector Establishments (ASISSE) data will supplement sectors not adequately covered by GST. The Technical Advisory Committee on Index of Services Production (TAC-ISP) was constituted by MoSPI in May 2025 under the chairpersonship of Debjani Ghosh. The Technical Advisory Committee has recommended monthly compilation, trial publication, and release within 60 days of the reference month, along with continuous validation using quarterly and annual datasets.

TodaySprint · Answer

2011–12

TodaySprint · Answer

2017–18

TodaySprint · Answer

2019–20

TodaySprint · Answer

2022–23

The Technical Advisory Committee has recommended which year as the base year for the proposed Index of Services Production (ISP)?

Discussion

Discussion

The Technical Advisory Committee has recommended which year as the base year for the proposed Index of Services Production (ISP)?

Related current affairs questions

Discussion

Discussion