Finance Minister launches National CSR Data Portal & Corporate Data Portal

Jan 20, 2018 12:22 IST
Finance Minister launches National CSR Data Portal & Corporate Data Portal

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.

Significance

• 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.

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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.

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