New Delhi: The government plans to come out with a Corporate Data Management scheme to ensure wider dissemination of company information for benefit of investors, regulators and other stakeholders in user-friendly formats. The proposal, being initiated by the Corporate Affairs Ministry, could also help to usher in “more objectivity and transparency in reporting by the corporates”. The Ministry expects to launch ‘Corporate Data Management’ project as a central sector Plan scheme in the current financial year. “It is proposed to implement the project on a pilot basis covering only listed public limited companies (about 7,000 in number) during the remaining three years of the 12th Plan (pilot phase),” according to a communication from the Ministry.
Overall cost of the project, spread over three years, is estimated to be Rs 33.94 crore.