New Delhi, July 7 -- A Technical Advisory Committee (TAC) constituted by the Ministry of Statistics and Programme Implementation (MoSPI) has recommended a phased rollout of the proposed Index of Services Production (ISP), with both the overall index and sub-sectoral indices to be released initially on a trial basis before regular publication.

The committee, in its report released by MoSPI on Tuesday, recommended that the trial series be used to gather stakeholder feedback, validate the methodology against quarterly and annual datasets, and assess the resilience of the indices before full-scale implementation.

"MoSPI embarks on compilation of the Index of Services Production (ISP) as a high-frequency indicator for the services sector rep...