To Perform  desired Action on Arrow key or Any other key as it pressed 
# key_event_handler.py
import sys
import select
import pty
import os
import time
import fcntl
import tty
import termios
def __select( iwtd, owtd, ewtd, timeout=None):
   '''This is a wrapper around select.select() that ignores signals. If
   select.select raises a select.error exception and errno is an EINTR
   error then it is ignored. Mainly this is used to ignore sigwinch
   (terminal resize). '''
   # if select() is interrupted by a signal (errno==EINTR) then
   # we loop back and enter the select() again.
   if timeout is not None:
       end_time = time.time() + timeout
   while True:
       try:
           return select.select(iwtd, owtd, ewtd, timeout)
       except select.error:
           err = sys.exc_info()[1]
           if err.args[0] == errno.EINTR:
               # if we loop back we have to subtract the
               # amount of time we already waited.
               if timeout is not None:
                   timeout = end_time - time.time()
                   if timeout < 0:
                       return([], [], [])
           else:
               # something else caused the select.error, so
               # this actually is an exception.
               raise
STDIN_FILENO=pty.STDIN_FILENO
STDOUT_FILENO=pty.STDOUT_FILENO
string_type=bytes
sys.stdout.write(string_type())
sys.stdout.flush()
buffer = string_type()
mode = tty.tcgetattr(STDIN_FILENO)
tty.setraw(STDIN_FILENO)
try:
    while True:
        r, w, e = __select([STDIN_FILENO], [], [],timeout=1)
        if STDIN_FILENO in r:
            #It accepts all keys from keyboard 
            data=os.read(STDIN_FILENO, 1)
            #Bellow line returns ASCII value of a charector
            ascii_value=ord(data[0])
            ##########################################################################
            ##                      Your code goes here                             ## 
            ##                                                                      ##
            # Do some action here by matching the ASCII value                        #
            # you can handle your program by making use of special keys like         #
            # Backspace, Ctrl, Ctrl+A,Ctrl+B, Ctrl+C, ...Ctrl+Z, Esc,F1, ...,F12 ....#
            # Tab,Enter,Arrow keys,Alphabetic and Numeric keys are also supported    #  
            ##########################################################################
            #                                                                        #
            #To Print use bellow line rather than print or sys.stdout.write(data)    #
            #os.write(STDOUT_FILENO,data)                                            #
            ##                                                                       #
            ##########################################################################
finally:
    tty.tcsetattr(STDIN_FILENO, tty.TCSAFLUSH, mode) 
Then open terminal and run key_event_handler.py
This program is mainly to capture key pressed and get ascii of key pressed, This program can also be used for non-Blocking I/O in multy threaded aplications