NEW DELHI: Finance Minister Arun Jaitley on Saturday said that economic consolidation in India would be led by the micro and small medium enterprises. "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. And this phase of consolidation will also be led by the MSME sector," he said after launching CriSidEx , the first sentiment index for micro and small enterprises (MSE).Jaitely observed that a series of steps have been undertaken to integrate the MSME sector in the formal economy and that the health of this sector is extremely vital given it is one of the largest employers. "It will also facilitate their ease of doing business. With one single enterprise ID it is possible that 26-27 business registration will not be required.

Source: Economic Times February 03, 2018 09:56 UTC