Govt plans National Register of Business of India

Govt plans National Register of Business of India

Kolkata: The government has decided to create a national register of business aimed to capture every single commercial activity in the country to ultimately pave way for keeping more accurate statistical data of economic activities.

“We are planning a National Register of Business to keep track of every single commercial activity - both big and small - in the country," secretary to the ministry of statistics and programme implementation TCA Anant said in Kolkata on Thursday on the sidelines of a workshop on annual survey of industries.

To make it possible, the new economic census will now cover the services sector, including micro home businesses and small kirana stores.

The work on economic census will begin from June-July, 2011, and is expected to finish by the end of FY 2012 expectedly making 2004-05 as the base year, Anant said.

A national register of business will lead to switching from the annual survey of industries to the annual survey of business.

The annual survey of industries will only capture industrial production under the Factories Act, but now the government wants to capture the services sector too, which currently falls under the Shops and Establishment Act.

“We wish to aim for an annual survey of business instead of being restricted to industrial output," Anant said.

However, Anant did not like to make any commitment on a timeframe for putting it in place.