eGovernance to cover all commercial activity in India
26 September 2012
The MCA21 project will foray seamless eGovernance practices that promise to improve interaction between the government and business while optimizing revenue collection for public welfare.
‘MCA21 Project’ started by Government of India in the year 2006, is a major e-Governance initiative covering all aspects of incorporation and regulation of companies as defined under the Companies Act.
India’s Cabinet Committee on Economic Affairs has approved continuation of MCA21 Project for its second cycle from January, 2013 to July, 2021. With a total project outlay of Rs.357.81 crore, including an outlay of Rs 54.42 crore for independent project management and certification, this promises be the biggest foray in the area of e-Governance covering commerce and industry. This cycle of the project is spread over eight-and-a-half years. Once completed, it will upgrade the interface between commerce and government to an electronic service delivery.
The project will benefit all the companies and LLPs registered in India. In addition, the project benefits citizens through its IEPF sub-portal for investor awareness and disclosures. Banks and financial institutions also benefit immensely from MCA21 as it acts as a repository of charge information on company/company's assets. MCA21 project has also benefited various state governments through innovative use of electronic stamps (e-stamp).
MCA21 e-governance programme has already resulted in improved service delivery and in its second cycle it is expected to continue the same. In addition, the project will improve corporate governance through better scrutiny of company disclosures, better enforcement of corporate laws and paperless working.
The Ministry of Corporate Affairs had launched ‘MCA21 Project’ in February 2006. It is a major e-Governance initiative covering all aspects of incorporation and regulation of companies as defined under the Companies Act. It is an end-to-end e-Governance program envisaging electronic filing of documents, registration of companies and public access to corporate information online through a secure interactive portal. The portal services can be accessed/ availed from anywhere, at any time that best suits the corporate entities, professionals and the public at large.
The Ministry of Corporate Affairs has proposed similar service delivery model as in first project cycle. In addition to continuing all the services being provided presently, Ministry of Corporate Affairs will extend e-governance to its OL offices, connect attached offices like Serious Fraud Investigation Office (SFIO) and Company Law Board (CLB), etc. in its second cycle. Ministry envisages redesigning of the portal to improve the stakeholder's experience. New services like SMS and mobile enabled interfaces will be provided for improved service delivery.