New Delhi, July 20 (IANS) The Ministry of Statistics & Programme Implementation (MoSPI) compiles key economic and social indices and conducts household surveys that inform policy on quality of life, the government said on Monday.MoSPI produces Estimates of Gross Domestic Product, the monthly Consumer Price Index — the monthly Index of Industrial Production — and disseminates a wide range of official statistics and administrative data through regular household surveys on labour force, socia…
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New Delhi, July 15 (IANS) With the introduction of the Index of Services Production (ISP), India is advancing its statistical system with global standards, as services sector has become a key driver of economic growth and employment generation and the government aims to position the country as a world leader in services, targeting a 10 per cent share in global services by 2047.According to an official factsheet, the ISP is India’s first high-frequency indicator dedicated to measuring services se…
New Delhi, June 24 (IANS) The Ministry of Statistics and Programme Implementation on Wednesday said it will launch the Index of Services Production in (ISP) July 2026 to provide a monthly measure of short‑term changes in the growth of formal services sector, and released a detailed FAQ booklet to assist users.The Index of Services Production (ISP) is a short-term indicator designed to measure changes over time in the volume of output produced by the services sector relative to a specified base…
New Delhi, June 5 (IANS) The current government led by Prime Minister Narendra Modi is committed to further drive the “Reform Express” with decisive policy measures to ensure positive economic momentum amidst global challenges, Finance Minister Nirmala Sitharaman said on Friday.FM Sitharaman remarks came as official data showed that India’s economy expanded at a robust pace in FY 2025-26, with real GDP estimated to grow by 7.7 per cent and real Gross Value Added (GVA) rising by 7.9 per cen…
New Delhi, June 5 (IANS) The government is set to release India’s January-March quarter GDP figures for FY26 along with the full-year growth numbers on Friday, with economists expecting the economy to expand at a slower pace than earlier estimates amid global uncertainties and external risks.In addition, the GDP data for the full financial year will be released with the new base year of 2022-23, which is an important statistical revision in national income calculations.Economists broadly expec…
New Delhi, April 21 (IANS) The Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) has driven capacity expansion in food processing, job creation, and export growth, with beneficiaries receiving a total incentive of Rs 2,162.55 crore, the government said on Tuesday.Food processing and preservation capacity has grown by 34 lakh MT per annum, the official statement said, highlighting the scheme’s impact.A total of 165 applications have been approved, corresponding to 274 pr…
New Delhi, March 24 (IANS) More than 74.52 lakh new jobs were created in India’s unorganised sector during January–December 2025, which represents an increase of 6.18 per cent compared to the 12-month period from October 2023–September 2024, according to the Annual Survey of Unincorporated Sector Enterprises (ASUSE) released on Tuesday.The estimated number of establishments increased to 7.92 crore during January–December 2025 from 7.34 crore in ASUSE 2023–24 (October 2023–September 2…
New Delhi, March 17 (IANS) India’s services sector, now contributing about $2.2 trillion to gross domestic product (GDP), is expected to grow to about $6 trillion by 2035, implying a compound annual growth rate (CAGR) of about 10.6 per cent, a report said on Tuesday.The huge surge will increase services’ share of GDP to nearly 60 per cent while it currently accounts for about 55 per cent of GDP, the report from OmniScience Capital said.The report highlighted the growing dominance of India’…
New Delhi, Feb 27 (IANS) BofA Global Research on Friday retained its FY26 GDP growth for India at 7.6 per cent, along with raising its FY27 GDP growth from 6.8 per cent to 7.4 per cent, reflecting a less adverse trade backdrop, and reasonably easy fiscal and monetary policy.This increase essentially represents lowering of risks to growth and resiliency to both private consumption and private investment. “While commodity prices are inching higher, even at current levels, we see room for monetar…
New Delhi, Feb 24 (IANS) A sub-committee set up by the Ministry of Statistics and Programme Implementation (MoSPI) has recommended enhanced use of GST data in the new series for GDP estimates with 2022-23 as the base year. The report of the sub-committee on the incorporation of new data sources, rates, and ratios, released on Tuesday, forms part of the process launched by MoSPI to revise the base year of the National Accounts to FY 2022–23.The new series (Base: 2022–23) is scheduled to be re…