The Corporate Affairs Ministry is in the process of bringing out a business confidence index (BCI), which would be an indicator of optimism of business managers in the country, sources said.
Details of the index like sample size, parameters, duration of survey and other issues are being looked into, they added.
The index would help measure the business sector's perception based on political and economic situation. This would enable to bring out the right pulse and vibrancy in the economy.
At present, such surveys are being conducted by industry chambers. The frequency of such surveys is quarterly or half-yearly.
Responses are usually drawn from 200-300 companies with a wide geographical and sectoral spread. Companies participating in such survey may have turnover varying from Rs 1 crore to Rs 2.5 lakh crore.
Usually responses are drawn from large number of sectors to get correct perception. These sectors include textiles, steel, chemicals and fertilisers, oil and gas, auto and auto components, rubber and rubber products, food processing, electrical equipment and machinery, FMCG, pharmaceuticals, metal and metal products, information technology and business services.