India to Launch Statistical Business Register by 2025

Current Affairs National

Posted by newadmin on 2025-03-25 08:52:30 |

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The Government of India is set to introduce a statistical business register by the end of 2025 to monitor business activity across the country. This initiative, led by the Ministry of Statistics and Programme Implementation (MoSPI), aims to track the opening and closing of businesses, providing a reliable framework for economic surveys and censuses.

The primary purpose of the register is to consolidate information on all enterprises in India. It will serve as a key resource for surveys such as the Annual Survey of Industries and the Annual Survey of Unincorporated Sector Enterprises. By integrating data from multiple sources—including the Employees’ Provident Fund Organisation, the Ministry of Corporate Affairs, Goods and Services Tax records, and the MSME database—the register will improve data accuracy and reduce redundancies.

To keep the information up to date, officials plan to update the register quarterly or semi-annually. This will ensure accurate and relevant data for economic planning. Additionally, it will play a crucial role in the upcoming economic census, helping to avoid duplication while capturing data on agricultural and non-agricultural enterprises.

Following recommendations from the United Nations Statistics Division, India joins over 60% of developing countries in implementing such a register. The initiative will enhance economic analysis, aid Gross Domestic Product (GDP) calculations, and provide a robust framework for evaluating sectoral performance, ultimately contributing to better economic policymaking.

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