Government looking at developing business index for industry

NEW DELHI: The government today said it is studying the feasibility of having a business index for the Indian industry.

Minister of State for Corporate Affairs RPN Singh said his Ministry has taken up a pilot study to see the feasibility of developing a business index.

"This is still at a preliminary stage and further details will emerge after completion of the pilot study and sharing its findings with other Ministries concerned with the subject matter," he said in a written reply in the Lok Sabha.

He was responding to a query on whether the government is planning to develop a business index for the industry.

Last week, Corporate Affairs Minister Veerappa Moily had said the government was planning to come out with a business index based on economic parameters to reflect the strength of Indian corporate sector.

A credible agency would be entrusted with the work of developing the index, Moily had said.

In recent times, there has been rising concerns among the investor community over the overall investment climate in the country.