The Union Minister for Finance and Corporate Affairs Shri Arun Jaitley launched CriSidEx , India’s first sentiment index for micro and small enterprises ( MSEs) developed jointly by CRISIL & SIDBI here today.
What is it?
CriSidEx is a composite index based on a diffusion index of 8 parameters and measures MSE business sentiment on a scale of 0 (extremely negative ) to 200 ( extremely positive) . The parametric feedback was captured through a survey of 1100 MSEs in November –December.
How it works?
CriSidEx will have 2 indices , one for the ‘survey quarter’ and another for the ‘next quarter’ once a trend emerges after few rounds of the survey , providing independent time series data.
MSME sector is backbone of the economy. It is one of the largest employer in the country and with the vast population where employment either in government or in the large industry itself has limited potential. 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. And that is the reason why a bulk of the jobs in manufacturing, trading have been created in this particular sector.