Government launches National CSR Data Portal & Corporate Data Portal

The Union Ministry of Corporate Affairs (MCA) has launched National CSR Data Portal & Corporate Data Portal for bringing accountability and transparency for corporate India.
The portals aim to provide easy accessibility to general public and also ensure high level of compliance. It will also help in institutionalising and consolidating the CSR activities.

National CSR Data Portal

The portal will capture information on Corporate Social Responsibility (CSR) activities carried out by eligible companies, filed on MCA21 registry in their financial statements. It will contain all filed information that can help to generate pre-defined reports with respect to expenditure across states, districts and development sectors.
It will also provide feedback on projects to be given by registered users. Moreover, the open access to data will help researchers and also improve quality of data filed by companies, as well as involve intended beneficiaries in giving valuable feedback to companies.

Corporate Data Portal

The portal aims at making all financial and non-financial information of companies available in user-friendly format to general public. It will also have facility to generate pre-defined reports and also customised reports. The portal will enable greater transparency and creation of tools for stronger Corporate Governance.

Significance

These portals are expected to bring 100% transparency in corporate governance by making public over 4-crore filings of nearly 1.2 million companies. They will also promote corporate transparency and accountability to public at large. They are also expected to become platforms for learning and sharing of ideas and information. They will also facilitate social audit of CSR projects and bring together CSR contributors, implementers and beneficiaries and align CSR activities with national development goals.

Month: Current Affairs - January, 2018