Corporate Affairs Ministry strengthens data dissemination efforts

NEW DELHI: Corporate Affairs Ministry is implementing a "user-friendly" data dissemination policy that includes making basic statistics on Indian corporate sector accessible to the general public.

Besides, plans are on the anvil for having a dedicated data portal of the Ministry.

According to the Ministry, the idea is to disseminate corporate sector data in a "user-friendly" and "pro-active manner".

The Ministry, which is the repository of information about registered companies in the country, had also recently revamped website.

Among others, it would be having an advisory group on data dissemination formats. Additional data reporting formats and templates are also being developed for sharing more information, the monthly newsletter said.

An internal committee of the ministry had made recommendations on data dissemination steps.

As part of data dissemination initiative, various new sections have been introduced on the Ministry website apart from coming out with monthly information bulletin -- that also carries basic statistics on the corporate sector.

India has more than 9 lakh active companies whereas the count of registered entities is over 13 lakh.

The efforts to strengthen data dissemination comes at a time when the new companies law is being implemented in the country.