Government seeks wider coverage for Index of Services Production
In short
The government wants to widen the Index of Services Production and has asked for feedback. MoSPI started compiling the index every month for the formal services sector on a trial basis in July 2026, using 2024-25 as the base year.
This matters because it could give a quicker read on services activity. The report does not say which parts of services will be added or when the wider coverage will start.
What the reporting says
The government moved to widen coverage of the Index of Services Production and invited feedback on the proposal. The available reporting says MoSPI began compiling the ISP monthly for the formal services sector on a trial basis in July 2026, using 2024-25 as the base year. The immediate consequence is a consultation on a higher-frequency services gauge, but what exact expansion is planned is not stated in the available reporting.
Why it matters
The government is seeking feedback to widen the coverage of the Index of Services Production. According to the available reporting, MoSPI began monthly trial compilation for the formal services sector in July 2026, using 2024-25 as the base year. This could improve how services-sector performance is tracked, but the exact scope of expansion, timeline, and final methodology are not stated.