The Hindu·4 min read·hard
New Index of Services Production will be based on GST, admin and survey-based data
T
The Hindu Bureau
✦AI Summary
The Indian government is launching a new Index of Services Production (ISP) that will primarily utilize GST data to track the formal services sector. The index aims to provide a consistent measure of economic activity, though it will exclude informal small businesses.
The new upcoming Index of Services Production (ISP) will rely heavily on Goods and Services Tax (GST) data to arrive at its estimates of services sector production, the report of the technical committee tasked with designing the index framework has said.
economybusiness
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