The Government is planning to come out with a business development index based on economic parameters to reflect the strength of the corporate sector.

Corporate Affairs Minister Veerappa Moily said on Friday that a credible agency would be entrusted with the work of developing the index.

“This index will be based on robust economic parameters that will reflect the true strength of corporate sector,” Moily said at a function organised by the Institute of Company Secretaries of India.

The proposal comes against the backdrop of rising concerns among the investor community over the overall investment climate in the country.

Moily said the Ministry of Corporate Affairs will come out with a sustainability reporting framework for companies in a “couple of weeks“.

The Minister also said radical solutions are needed to tackle social and economical problems. Regarding the new Companies Bill, 2011, Moily said he hopes the Bill will be passed in the next session of Parliament.

The Bill is aimed at creating a good regulatory environment for sustainable and inclusive growth.

(This article was published on August 31, 2012)
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