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NEW DELHI:According to Jaitley, this phase of “consolidation” will be led by the Micro, Small & Medium Enterprises (MSME) sector.

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…”

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)”.

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