UPSC Prelims Practice Questions — FAQs on Index of Services Production – Trial Indices with Base year 2024 -25

Q1. As per the MoSPI Approach Paper on the Index of Services Production (ISP), how many members constituted the Technical Advisory Committee on ISP (TAC-ISP) set up in May 2025?

  • A. 18
  • B. 21
  • C. 24
  • D. 30

Q2. In the context of MoSPI's new statistical product, the Index of Services Production (ISP) is best defined as an index designed to measure which one of the following?

  • A. Short-term (monthly) changes in the volume of output of the formal services sector
  • B. Month-on-month changes in retail prices of services consumed by households
  • C. The net foreign-exchange earnings from India's services exports
  • D. Quarterly changes in employment levels across the organised services sector

Q3. The Index of Services Production (ISP), proposed for release by MoSPI on a trial basis to track the formal services sector, is to have which one of the following as its base year?

  • A. 2011-12
  • B. 2012-13
  • C. 2022-23
  • D. 2024-25

Q4. With reference to the proposed Index of Services Production (ISP), which one of the following correctly describes what the index is designed to measure?

  • A. Short-term (monthly) changes in the output/volume of the formal services sector
  • B. The annual contribution of the services sector to Gross Value Added
  • C. Month-on-month changes in the prices of services consumed by households
  • D. The volume of India's services exports relative to global services trade

Q5. In the context of measuring the size of India's services sector, the term 'Gross Value Added (GVA)' is best defined as which one of the following?

  • A. The value of output of a sector minus the value of its intermediate consumption, measuring the net contribution of that sector to the economy
  • B. The total market value of all final goods and services produced within the country in a year, inclusive of net taxes on products
  • C. The total sales turnover of all enterprises in a sector before deducting any costs or taxes
  • D. The income accruing to factors of production located abroad but owned by residents of the country

Q6. Which one of the following databases is used as the principal sampling frame for the Annual Survey of Incorporated Services Sector Enterprises (ASISSE)?

  • A. GSTN (Goods and Services Tax Network) database
  • B. MCA21 database of the Ministry of Corporate Affairs
  • C. Udyam Registration portal of MSMEs
  • D. Business Register of the Annual Survey of Unincorporated Sector Enterprises (ASUSE)

Q7. Who chairs the Technical Advisory Committee on the Index of Services Production (TAC-ISP) constituted by MoSPI in May 2025?

  • A. Debjani Ghosh, Distinguished Fellow, NITI Aayog
  • B. Pronab Sen, former Chief Statistician of India
  • C. Bibek Debroy, Chairman, Economic Advisory Council to the PM
  • D. T.C.A. Anant, former Secretary, MoSPI

Q8. As per MoSPI's Approach Paper, how many members constitute the Technical Advisory Committee on the Index of Services Production (TAC-ISP)?

  • A. Exactly 24 members
  • B. Exactly 12 members
  • C. Exactly 18 members
  • D. Exactly 40 members

Q9. The new Index of Services Production (ISP), with base year 2024-25, is being developed and will be released as an official statistical product by which one of the following bodies?

  • A. National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation
  • B. Office of the Economic Adviser under the Department for Promotion of Industry and Internal Trade
  • C. Monetary Policy Department of the Reserve Bank of India
  • D. NITI Aayog in collaboration with the Department of Economic Affairs