New Delhi: The Confederation of All India Traders (CAIT) on Sunday welcomed the government’s decision to launch the ‘High-Frequency Economic Barometer’ on July 14, saying it will empower small businesses and accelerate India’s economic growth.
The traders’ body described it as a historic and transformative initiative under the visionary leadership of Prime Minister Narendra Modi to make economic governance more modern, dynamic, and data-driven.
The Barometer will assess the health of the economy in near real time by integrating key indicators such as GST collections, UPI transactions, e-way bills, freight movement, power consumption, banking activity, digital commerce, and other important economic data.
This will enable the Government to formulate policies with greater speed and precision while identifying emerging economic challenges at an early stage.
“Prime Minister Modi has elevated economic transparency and efficiency to new heights through initiatives such as Digital India, GST, UPI, and technology-driven governance. The ‘High-Frequency Economic Barometer’ is the next significant chapter in this transformational journey and will position India among the world’s most advanced and data-driven economies,” said Praveen Khandelwal, Member of Parliament and Secretary General, CAIT.
Khandelwal said that the greatest beneficiaries of this initiative will be India’s small traders, retailers, MSMEs, and entrepreneurs.
Timely access to economic trends, consumer behaviour, and market demand patterns will help businesses make better-informed decisions and enhance their competitiveness.
He further noted that in an era marked by global economic uncertainties, supply chain disruptions, inflationary pressures, and geopolitical challenges, the Barometer will serve as an effective early warning system, enabling the government to take timely corrective measures.
The initiative marks the beginning of a new era in India’s economic policymaking framework. It will not only improve the accuracy of economic forecasting but also strengthen investor confidence, promote business growth, and contribute significantly to achieving the vision of a Developed India, said CAIT.
(IANS)
