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Explore New Economic Indicator- Index of Services Production (ISP) Explained #currentaffairs with 129,095 views, 4,560 likes, and 57 comments. Experience the impact of this video content that has captured audience attention.

👩🏻‍🏫 Join Unacademy for UPSC Prep - Mrunal Eco Course starting from Thursday 16th June https://unacademy.com/goal/upsc-civil-services-examination-ias-preparation/KSCGY/subscribe?plan_type=plus&referral_code=mrunal.org The Government of India has launched a new macroeconomic indicator called the Index of Services Production (ISP), and Dr. Mrunal Patel breaks down exactly why it matters for UPSC Economy preparation. Macroeconomic indicators each measure a different dimension of the economy. Inflation is captured by the Consumer Price Index and Wholesale Price Index. Value of production is captured by GDP. But when you need to measure the physical quantity or volume of production, GDP alone is not enough. For industrial output, the Index of Industrial Production (IIP) does this job, but IIP only covers manufacturing, mining, and electricity. It leaves out services entirely. This gap is exactly what the new Index of Services Production is designed to fill. Dr. Mrunal Patel explains this with a simple airline example. If an airline company does 100 crore rupees of business, that value gets counted in GDP. But GDP does not tell you how many passengers flew or how many kilometers were covered. ISP is built to capture that physical quantity dimension of services output, not just the rupee value. This distinction between value-based and quantity-based indicators is a favourite UPSC Prelims and Mains trap, especially in IAS, CDS, and CAPF exams, where questions are often lifted directly from PIB press releases with very specific factual details. Key facts covered: ISP will be released by the Ministry of Statistics and Programme Implementation (MoSPI), with base year 2024-25. It is a monthly release, making it a high frequency indicator. Sectors excluded from ISP include public administration, defence, gambling, and informal sector activity such as domestic help and cycle rickshaws. Remaining services are divided into sub-sectors with data collected from multiple sources. Notably, this is the first time GST data will be used in the preparation of an official index, a significant methodological shift aspirants should remember. This video is useful for UPSC Civil Services, SSC-CGL, State PSC, Banking, IBPS, RBI Grade B, CAPF, CDS, ACIO, and APFC exam preparation. For structured coverage of Economy for UPSC 2026, join Dr. Mrunal Patel's course on Mrunal.org, live on Unacademy, covering Prelims and Mains before the year ends. ### TIMESTAMPS: Not applicable — video under 4 minutes ### TAGS: UPSC economy, Mrunal Patel, Mrinal Patel, Index of Services Production, ISP index, IIP vs ISP, MOSPI, Ministry of Statistics, macroeconomic indicators UPSC, high frequency indicators, GST data index, UPSC prelims economy, UPSC mains economy, RBI Grade B economy, CDS economy, CAPF exam preparation, SSC CGL economy, IBPS economy, State PSC economy, Unacademy UPSC, Mrunal.org, UPSC economy free lecture, ACIO economy, APFC economy ### ALTERNATIVE TITLES: 1. What is Index of Services Production ISP UPSC Economy 2. IIP vs ISP Difference Every UPSC Aspirant Must Know 3. MOSPI Launches ISP High Frequency Indicator UPSC ### Frequently asked / search topics answered in this video: - What is Index of Services Production (ISP) - Difference between IIP and ISP - Which ministry releases ISP - Base year of ISP - Why GDP alone cannot measure production quantity - Sectors excluded from ISP - Role of GST data in new index - Is ISP a monthly or high frequency indicator

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