Advertisement

HindustanTimes Sat,20 Dec 2014

Govt plans index for reflecting corporate sector's strength

PTI  New Delhi, August 31, 2012
First Published: 12:42 IST(31/8/2012) | Last Updated: 12:44 IST(31/8/2012)

The government is planning to come out with a business development index based on economic parameters to reflect the strength of Indian corporate sector.

Corporate affairs minister Veerappa Moily on Friday said a credible agency would be entrusted with the work of developing the index.

Advertisement

"This index will be based on robust economic parameters that will reflect the true strength of corporate sector," Moily said at a function organised by the Institute of Company Secretaries of India.

The minister also noted that in the recent past there has been a lot of pessimism in the industry.

The proposal comes against the backdrop of rising concerns among the investor community over the overall investment climate in the country.

Moily said the ministry of corporate affairs would be coming out with sustainability reporting framework for companies in a "couple of weeks".

The minister also said radical solutions on a massive scale are needed to tackle social and economical problem.

Regarding the new Companies Bill, 2011, Moily said, he hopes to pass the bill in the next session of Parliament.

The bill is aimed at having good regulatory environment for sustainable and inclusive growth.


Advertisement
more from Business

Year-end high: Flipkart announces $700 million funding

Flipkart, India’s largest e-commerce marketplace, on Saturday announced a US $700 million (Rs 4434 crore) investment even as 2014, the year that has seen huge fund flow into India’s rising consumer internet industry, is about to end.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved