Business News | MSME Ministry, MoSPI Sign MoU to Strengthen Statistical Business Register
Get latest articles and stories on Business at LatestLY. The Ministry of Micro, Small and Medium Enterprises (MSME) and the Ministry of Statistics and Programme Implementation (MoSPI) have signed an MoU to strengthen the Statistical Business Register (SBR), as per a statement by the Ministry of Micro, Small & Medium Enterprises on Tuesday.
New Delhi [India], September 29 (ANI): The Ministry of Micro, Small and Medium Enterprises (MSME) and the Ministry of Statistics and Programme Implementation (MoSPI) have signed an MoU to strengthen the Statistical Business Register (SBR), as per a statement by the Ministry of Micro, Small & Medium Enterprises on Tuesday.
The MoU sets the terms and understanding between both the ministries regarding the sharing of unit-wise data of the Udyam Registration available with the MSME Department through APIs. Also, the two-way API shall provide data for preparation of the National Statistical Business Register (NSBR), as per the release shared by the MSME Ministry.
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“A Memorandum of Understanding (MoU) has been exchanged between the Ministry of Micro, Small and Medium Enterprises and the Ministry of Statistics and Programme Implementation (MoSPI), to institutionalise a mechanism for sharing relevant data for the development and strengthening of the Statistical Business Register (SBR),” the Ministry said in the release.
It further noted that the MOU will facilitate a structured framework for sharing relevant information from the Udyam Registration ecosystem of the Ministry of MSME with MoSPI.
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“The information will contribute to improving the coverage, consistency and reliability of business information used for statistical purposes,” the Ministry said.
The Statistical Business Register (SBR) is a centralised and regularly updated database of registered businesses, enterprises, establishments and other economic units operating within a defined geographical area.
It records key characteristics of these economic units and the relationships between them, providing a common framework for compiling business-related information.
The SBR forms are a key part of the economic statistics system by improving the coverage, consistency and reliability of business data. It helps identify target populations and select samples for economic surveys, supports the compilation of business demography statistics, and enables better integration of data from different sources.
The MoU was signed by Rajneesh, Additional Secretary & Development Commissioner, Ministry of MSME and Dalip Singh, Additional Director General, MoSPI. (ANI)
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