UPSC Prelims Practice Questions — Upcoming Index of Services Production is expected to rely heavily on GST figures

Q1. The upcoming Index of Services Production (ISP) has been conceived as the services-sector counterpart to which one of the following existing indices?

  • A. Consumer Price Index (CPI)
  • B. Index of Industrial Production (IIP)
  • C. Wholesale Price Index (WPI)
  • D. Index of Eight Core Industries

Q2. Which one of the following correctly states the base year of the Index of Services Production and the body that will compile it?

  • A. Base year 2011-12; compiled by MoSPI
  • B. Base year 2024-25; compiled by MoSPI
  • C. Base year 2024-25; compiled by the Ministry of Commerce and Industry
  • D. Base year 2022-23; compiled by the Reserve Bank of India

Q3. How many principal data sources will MoSPI use to compile the Index of Services Production?

  • A. Two
  • B. Three
  • C. Four
  • D. Five

Q4. The Technical Advisory Committee on the Index of Services Production recommended that its introduction be carried out in how many phases?

  • A. Two
  • B. Three
  • C. Four
  • D. Five

Q5. Which one of the following is solely responsible for compiling and releasing the Index of Services Production?

  • A. Reserve Bank of India
  • B. Ministry of Statistics and Programme Implementation
  • C. Ministry of Commerce and Industry
  • D. NITI Aayog

Q6. The current series of the Index of Industrial Production, against which the ISP is benchmarked, uses which one of the following base years?

  • A. 2004-05
  • B. 2011-12
  • C. 2017-18
  • D. 2024-25

Q7. In India, the Consumer Price Index (combined) and the Index of Industrial Production are both compiled exclusively by which one of the following bodies?

  • A. Reserve Bank of India
  • B. National Statistical Office under MoSPI
  • C. Office of the Economic Adviser, DPIIT
  • D. Labour Bureau