📰 News ⏱ 2 min

Government Teams Up to Improve Business Data Records

The Ministry of Micro, Small and Medium Enterprises and the Ministry of Statistics and Programme Implementation signed a Memorandum of Understanding.

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Key Points

4 points

Agreement signed between two ministries to share business information.

Data exchange will be conducted through Application Programming Interfaces.

Focus on enhancing the coverage, consistency, and reliability of the Statistical Business Register.

Improved data supports better economic planning and statistical surveys.

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They will share unit‑level data from the Udyam Registration system using Application Programming Interfaces.

The collaboration aims to strengthen the National Statistical Business Register, making business data more accurate and reliable.

A robust register helps the government plan economic policies and conduct surveys.

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8 words

Micro, Small and Medium Enterprises

Small, medium‑size, and very small companies.

Statistical Business Register

A comprehensive database that records details about all registered businesses.

Memorandum of Understanding

A formal written agreement between two parties to cooperate on a specific purpose.

Application Programming Interface

A set of protocols that allows different software systems to communicate and share data.

National Statistical Business Register

The nationwide collection of business information used for official statistics.

economic units

Individual businesses, factories, or establishments that produce goods or services.

business demography

Statistical data describing the number, size, and types of businesses in an economy.

integration

Combining data from various sources into a single, unified system.

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