The Union Minister for Finance and Corporate Affairs, Arun Jaitley launched the National CSR Data Portal & Corporate Data Portal on 19th January 2018 in Delhi.
Speaking on the occasion, the Finance Minister said that the initiative is a significant step towards driving accountability and transparency for corporate India.
The portals’ easy accessibility to the general public will ensure a high level of compliance and will also help in institutionalising and consolidating the CSR activities.
• The launch of the portals is expected to bring 100 percent transparency in corporate governance by making public over 4-crore filings of nearly 1.2 million companies.
• The two portals would promote corporate transparency and accountability to the public at large.
• The portals are also expected to become platforms for learning and sharing of ideas and information.
• They would also facilitate a social audit of CSR projects and bring together CSR contributors, implementers and beneficiaries and align CSR activities with national development goals.
National CSR Data Portal
• The portal will capture information on CSR activities carried out by eligible companies, filed on the MCA21 registry in their financial statements.
• Hence, it will contain all filed information that can 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.
• The open access to data is expected to help researchers, 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 the financial and non-financial information of the companies available in a user-friendly format to the general public.
• It will also have the facility to generate pre-defined reports and also customised reports.
• The portal is expected to help in becoming a potent enabler for greater transparency and creation of tools for stronger Corporate Governance.
Who: Arun Jaitley
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.