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- Union Finance Minister Arun Jaitely on February 3, 2018, in New Delhi, launched India’s first sentiment index, CriSidEx, for micro and small enterprises.
- It is jointly developed by SIDBI and CRISIL.
- CriSidEx is a composite index based on a diffusion index of 8 parameters and measures MSE business sentiment on a 0 to 200. Zero indicates extremely negetive whereas 200 indeicates exteremely positive sentiment.
- 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.
- Current Index: The first reading of CriSidEx stood at 107, which indicates mildly positive sentiment during October-December during which the survey was conducted. The parametric feedback was captured through a survey of 1,100 MSEs in November and December last year. Out of 1100 MSMEs, 550 were were manufacturing units and the rest 550 services units.
- Benifits of Index: This index will give the detail breakup of the sentiments and analysis as the sector sees it for the current quarter and for the next quarter.
- The index will be greater use as far as policy making is concerned so that the necessary changes can also be brought in to ensure that government continues to perform its role as facilitator.
- The role of this index is likely to become more significant in times to come.
