Monthly services output index ISP to be released with 60-day lag with base year 2024-25

📌 Summary:

• A new Index of Services Production (ISP) measuring the output of India's services sector, with 2024-25 as the base year, will be released monthly with a 60-day lag, the Statistics Ministry said in an FAQ
• The first-ever ISP, for April 2026, will be announced on July 14, 2026
• Subsequent numbers will be released on the 29th of every month (or next working day) by the Ministry of Statistics and Programme Implementation (MoSPI)
• The index fills a long-standing data gap: services contribute over half of GDP yet lacked a high-frequency output measure comparable to the IIP for industry

🎯 UPSC Relevance: GS3 Economy — strengthening official statistics; high-frequency indicators for the services sector to improve policy and growth measurement

📝 Prelims Facts:

• ISP is compiled by MoSPI; base year 2024-25; first release for April 2026 on July 14, 2026
• The services sector contributes the largest share to India's Gross Value Added (GVA)
• The Index of Industrial Production (IIP) is the analogous high-frequency measure for industry

🔑 Key Term: Index of Services Production (ISP) — a periodic index tracking volume changes in services output, akin to the IIP for the industrial sector