India to expand services production index to education, health, defence

India's statistics ministry is set to broaden the scope of its monthly Index of Services Production to include education, healthcare, public administration and defence sectors. The expansion will increase the index's coverage of services gross value added (GVA) to 78.4% from approximately 60% currently.

The revised framework is expected to leverage UPI transaction data to monitor activity in private education and healthcare segments, while government expenditure data will be used to track public services performance. This enhancement aims to provide a more comprehensive measure of services sector growth across the economy.