Arun Jaitley: Economy has entered into consolidation phase

Published: Feb 03, 2018, 15:24 IST | IANS

Finance Minister Arun Jaitley said on Saturday that the economy has entered into a phase of consolidation after a series of "structural reforms" which were initiated in the past two years

Arun Jaitley

Finance Minister Arun Jaitley said on Saturday that the economy has entered into a phase of consolidation after a series of "structural reforms" which were initiated in the past two years. "... Having gone through a series of very major structural reforms in the past two years, this now also is a phase for consolidation as far as the economy is concerned," Jaitley said at an event here.

According to Jaitley, this phase of "consolidation" will be led by the Micro, Small & Medium Enterprises (MSME) sector.

Speaking on the launch of "CriSidEx" which is India's first sentiment index for the MSEs developed jointly by Crisil and Sidbi, Jaitley said: "The health of this sector (MSME) is extremely vital to the economy and we are increasingly seeing that with a number of steps taken an increased integration of the sector into the formal economy itself..."

"... This is one sector, where people not only exhibit their entrepreneurial skills, become part of large value chains, but they also become job creators in the process and that's the reason why a bulk of the jobs in manufacturing, trading have been credited in this particular sector."

CriSidEx is based on a diffusion index of eight parameters, and measures MSE business sentiment on a scale of "0 (extremely negative) to 200 (extremely positive)".

Catch up on all the latest Mumbai, National and International news here

Download the new mid-day Android and iOS apps to get updates on all the latest and trending stories on the go

The content/reporting displayed on our website www.mid-day.com is provided "AS-IS," "AS AVAILABLE, by us from third party, agencies, sources, without any verification from our side. It may contain error, bugs and other limitations. The reader's can rely on the content at their own will. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability, data, text, images, video, messages, or any other material whatsoever or for any claims/loss/action that the reader may suffer as a result of relying on the content on our site. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

Trending Video

Elections 2019: BJP leader gets mobbed in Ghatkopar!

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK