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India's First MSE Sentiment Index CriSidEx Details, Features, Benefits
India's First MSE Sentiment Index CriSidEx Launched- Details, Features, Benefits
The Union Minister for Finance and Corporate Affairs, Arun Jaitley launched CriSidEx, India’s first business sentiment index for Micro and Small Enterprises (MSEs) on 3rd February 2018 in New Delhi.
CriSidEx has been designed and developed by a joint venture of CRISIL (Credit Rating Information Services of India Limited) & SIDBI (Small Industries Development Bank of India).
CriSidEx is a composite index based on a diffusion index of eight parameters and measures MSE business sentiment on a scale of zero (extremely negative) to 200 (extremely positive).
CriSidEx will have two indices, one for the survey quarter and another for the next quarter once a trend arises after few rounds of the survey, providing independent time series data.
CriSidEx will be beneficial in indicating the current state and expected outlook on the MSEs for every quarter and thus will help to improve market efficiencies. The 'Sentiment Index' is believed to give important insights into employment, business environment and foreign trade.
Arun Jaitely informed that government is likely to take such measures because MSME sector is the backbone of the economy. This is one sector where people not only exhibit their entrepreneurial skills, become part of large value chains but also become job creators in the process.
