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STRATEGY DOCUMENT2017

STRATEGY DOCUMENT2017

Government of India

6 | Strategy Document 2017

Strategy Document 2017 | 7

CONTEXTUAL

OVERVIEW

__________18__________10 __________30 __________42 __________60__________36 __________46STRATEGY

OUTLOOKKEY STAKEHOLDERSMCA MANDATE

MCA: SWOT

ANALYSIS

MONITORING AND

REVIEWSTRATEGIC ACTIONS

Strategy Document 2017 | 7

8 | Strategy Document 2017

AS - Accounting Standard CAF - Common Application Form CBDT - Central Board of Direct Taxes CCC - Client and Citizen Charter CCI - Competition Commission of India CDM - Corporate Data Management CoI - Certificate of Incorporation

COMPAT

- Competition Appellate Tribunal CRC - Central Registration Centre CSR - Corporate Social Responsibility DIN - Directors Identification Number DIPP - Department of Industrial Policy and Promotion Figure -2.1 - Organogram

Figure- 3.1

- Stakeholders of MCA

Figure- 4.1

- Core Values

Figure- 4.2

- Strategic Road Map

Figure- 6.1

- Distribution of Active LLP by Economic Activity

Figure- 6.2

- Distribution of Active OPC by Economic Activity

Figure- 6.3

- Key Services of MCA 21

Table- 1.1

- Contribution to GVA at Current Basic Prices (per cent)

Table- 2.1

- Policy Functions

Table- 2.2

- Regulatory Functions

Table- 2.3

- Registered Companies as on 31.03.2016

Table- 2.4

- Active Companies as on 31.03.2016

Table- 2.5

- Key services of Institutions

Table- 3.1

- Stakeholders" Expectations

Table- 4.1

- Strategic Objectives of MCA

Table- 4.2

- Key Performance Indicators

Table- 6.1

- Policy Initiative- Action Plan for 3 and 7 Years

Table- 6.2

- Regulatory Framework- Action Plan for 3 and 7 Years

Table- 6.3

- E- Governance- Action Plan for 3 and 7 Years

Table- 6.4

- Institutional Capacity Building- Action Plan for 3 and 7 Years

LIST OF FIGURES

LIST OF TABLES

LIST OF ABBREVIATIONS

8 | Strategy Document 2017

Strategy Document 2017 | 9

HDI - Human Development Index HQ - Head Quarter GDP - Gross Domestic Product GPR - Government Process Re-engineering IBC - Insolvency and Bankruptcy Code IBBI - Insolvency and Bankruptcy Board of India ICAI - Institute of Chartered Accountants of India ICoAI - Institute of Cost Accountants of India ICSI - Institute of Company Secretaries of India ICLS - Indian Corporate Law Service ICT - Information and Communication Technology IEPFA - Investors Education and Protection Fund Authority IICA - Indian Institute of Corporate Affairs IMF - International Monetary Fund IRDAI - Insurance Regulatory and Development Authority of India KMP - Key Managerial Personnel LLP - Limited Liability Partnership MCA - Ministry of Corporate Affairs MNC - Multinational Company MSME - Micro Small and Medium Enterprise NACAS - National Advisory Committee on Accounting Standards

NCLT/ NCLAT

- National Company Law (Appellate) Tribunal NFCG - National Foundation for Corporate Governance NFRA - National Financial Reporting Authority NITI - National Institution for Transforming India NVG - National Voluntary Guidelines OPC - One Person Company PAN - Permanent Account Number RBI - Reserve Bank of India RD - Regional Directors RFD - Result Framework Document RoC - Registrar of Companies SDG - Sustainable Development Goals SEBI - Securities and Exchange Board of India SFIO - Serious Fraud Investigation Office SPICe - Simplified Proforma for Incorporating Company Electronically WEO - World Economy Outlook

Strategy Document 2017 | 9

10 | Strategy Document 2017

Strategy Document 2017 | 11

12 | Strategy Document 20171.1 Global Economic Scenario

1.1.1

The focus of world economic

outlook has now shifted from developed to developing nations. The macro-economic, social, technological and business environment have experienced a swing towards the emerging economies. In the year 2015, the world output grew by 3.2 % backed by 4% growth in output of emerging market and developing economies. During this period advanced economies grew by

2.1% while India and China grew by 7.6%

and 6.9% respectively. 1.1.2

India has become one of the

major growth centres globally and has developed cross border synergies in terms of resources such as human, technology, finance, entrepreneurship etc. With the rise of entrepreneurship and better facilitation provided by government,

India is now one of the fastest growing

economies in the world. Today, India is the 7th largest economy in nominal terms and 3 rd largest in terms of purchasing power parity (PPP) 1 . India's contribution to world's GDP growth in PPP terms increased from an average of 8.3% during 2001-07 to 14.4% in 2014 that is 2.7 percentage points higher than that of United States of America, 2 underlying

India's growing importance in the world

economic landscape.

1.2 Indian Economy

1.2.1

Amidst global economic

uncertainties in terms of declining commodity prices, turbulent financial markets and volatile exchange rates,

India's growth story has largely remained

positive on the strength of domestic absorption 3 . There are important developments in other macro-economic parameters such as sustainable fiscal deficit, healthy current account balance and an inflation within control. 1.2.2

The transition to the market

driven economy with substantial focus on privatization has helped the Indian corporates to emerge as one of the major drivers of economic growth. The private corporate sector and public sector together constitute about 55.3% of the

Indian economy in terms of Gross Value

Added (GVA). "One conspicuous change

over the four-year period from 2011-12 to

2014-15 was the decline in the shares of

1

IMF, 2015, “ World Economic Outlook"

2

Economic Survey 2015-16 Volume-2, page 3

3

Economic Survey 2015-16 Volume-2, page 1

CONTEXTUAL OVERVIEW

Strategy Document 2017 | 13

the public and household sectors in total

GVA, which was fully taken over by the

private corporate sector" 4 as can be seen in (table 1.1): 1.2.3

An economy transits through

different stages of development as it matures from an agrarian economy to a services oriented economy. In India, the share of agriculture in GDP has consistently declined over the past six decades, but is nevertheless high by global

standards (Graph 1.1). The high growth trajectory that India has experienced during the last decade has been mostly driven by growth in service sector, with significant contribution by the corporate sector.

1.2.4quotesdbs_dbs21.pdfusesText_27