Event: Union Minister for Finance and Corporate Affairs Shri Arun Jaitley, on 19 January, 2018, launched the National CSR (Corporate Social Responsibility) Data Portal & Corporate Data Portal in New Delhi.
What it will do: The National CSR Data Portal will capture information on CSR activities carried out by eligible companies, filed on the MCA21 registry in their financial statements. The filed information provides a snap shot of CSR activities carried out by companies. The CSR portal contains all filed information, which can generate pre-defined reports with respect to expenditure across states, districts, development sectors, etc. The Portal also provides for 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. While the Corporate Data 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 also has facility to generate pre-defined reports and also customised reports.
What are the benefits: According to the Finance Minister, the initiative is a significant step towards driving accountability and transparency for corporate India. By making the portals accessible to general public, it will ensure high level of compliance and also in institutionalising and consolidating the CSR activities. The portals reflect the government’s commitment towards leveraging technology towards smart governance. The Corporate Data Portal would help in becoming a potent enabler for greater transparency and creation of tools for stronger Corporate Governance. As per the Union Corporate Affairs Secretary, the dual launched had created a landmark in bringing about 100 percent transparencies 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 public at large and also facilitate social audit of CSR projects, besides bringing together CSR contributors, implementers and beneficiaries and aligning CSR activities with national development goals.
