No Data With Govt on CSR Spending by Companies at Present: Minister


Please like

NEW DELHI: The government on Monday said at present it does not have data on money spent by companies voluntarily towards social welfare activities.

sachin_pilot_ministerThe new Companies Bill, which is awaiting Rajya Sabha approval, requires certain class of firms to spend two per cent of their average profit over the last three years for Corporate Social Responsibility (CSR) activities.

“At present there is no legal requirement for companies to undertake activities in pursuance of their CSR,” Corporate Affairs Minister Sachin Pilot said in a written reply to the Rajya Sabha.

Under the new Companies Bill, certain classes of companies are required to formulate a policy on CSR and to spend two per cent of their average net profit of the last three years on such activities.

The Minister said that at present there is “no data of such expenditure voluntarily undertaken by the companies is maintained”.

“The National Foundation of Corporate Governance has, however, undertaken a study to assess CSR activities undertaken by 10 companies selected from different regions and sector,” he said.


Please follow and like us:



Previous articleVodafone’s E-Mamta Initiative Helps Reduce Infant Mortality in Gujrat
Next articleDefence Ministry Black Listed 6 Companies in Last 10 Years
India CSR Network
India CSR Network is India's biggest and most trusted news portal in the domain of CSR & Sustainability. India CSR welcomes stories, statements, updates, reports on issues that interest you. Feedback, comments will make it more purposeful and resourceful. It is designed and maintained by India CSR Group. Contents are non-fiction. Though all efforts have been made to verify the accuracy, the same should not be construed as a statement of law or used for any legal purposes. In case of any ambiguity or doubts, readers are advised to verify with the source(s). Statement, articles, views and contributions can be sent to