The Ministry of Statistics and Programme Implementation (MoSPI) has released an approach paper to introduce an Index of Service Production (ISP) that will track services output every month, much like the Index of Industrial Production does for industry. The ISP will use 2024-25 as its base year and rely mainly on GST data along with official sources. It is needed because services make up more than half of India's GDP, yet policymakers currently depend on the survey-based Purchasing Managers' Index, which does not measure actual output.