India's MoSPI proposes UPI tracking of education and healthcare spending
India's statistics ministry (MoSPI) has proposed using UPI payment data to see how much people are actually spending on things like schools and hospitals.
By tracking these digital transactions, it hopes to get a clearer, high-frequency picture of where money's going in the education and healthcare sectors, two areas that make up over 10% of India's services economy.
MoSPI plans services index expansion
This move is part of MoSPI's plan to expand its Index of Services Production, which started testing earlier this year.
Right now, the index covers 19 sectors, but adding education, health, public administration and defense could bump its coverage up to around 78.4% of services GVA.
UPI will help track private spending, while government spending gets counted separately through official channels.
The goal? To better understand how public vs. private money flows in these crucial sectors.