Ministry of Corporate Affairs has been receiving requests from government and non-government agencies, research institutes, individual researchers etc. for updated, authentic company level information in the complete enumeration frame. To effectively meet this demand it is necessary that raw data undergoes processes like data cleaning, data pre-processing, business intelligence/ data mining and data analytics.
The main objective of this project is to establish a Business Intelligence / Data Mining Resource Facility which will extract and convert the statutory information stored in MCA21 database into statistical information for proactive data sharing and analytics.
Ministry of Corporate Affairs has been implementing an e-governance project, “MCA21” since 2006. It has fully automated the process of working and administration of the Companies Act. Companies are mandated to file all documents relating to incorporation, compliance, approvals, annual statutory returns, etc. electronically in the system. The process of filings has resulted in the accumulation of a plethora of information and MCA21 is now the electronic repository about Indian corporate sector.
However, the utilization of the electronic information available in MCA repository is very limited. Only few Government organizations access some customized corporate sector data in response to their specific requests on ad-hoc/ felt-need basis from time to time.
At present the Ministry is sharing corporate data in terms of number of companies’ registered/closed/active/dormant, etc. along with their paid-up capital and authorized capital in its Annual Reports and Monthly Information Bulletins. Unit level information on financial aggregates and non-financial information relating to Indian corporates are not available in the public domain.
To address this issue, the Ministry of Corporate Affairs (MCA) intends to disseminate corporate sector data in a structured manner and for this purpose, intends to setup an “in-house data mining and analytics facility”. This will provide a forward linkage to the MCA21 data repository by transforming transactional system into a data warehouse. The information available in MCA21 database shall be validated and cleansed by applying business rules and checking the data against the information available in public domain. Subsequently, this refined data will be used for the purpose of statistical analysis and generation of various kind of reports. This cleansed data shall be used by the MCA for policy making and regulatory purposes. The reports and data will also be made available to the other interested stakeholders and public.