Indian companies invest over $4.9 billion in Corporate Social Responsibility
New Delhi: Union Finance Minister Nirmala Sitharaman has said that Rs 36,145 crore ($4.92bn) has been spent by Indian companies on Corporate Social Responsibility (CSR) activities in the 2019-21 period.
While Rs 17,672.40 crore has been spent on CSR in 2020-21, Rs 18,473.41 crore has been spent in the previous year.
She said that $2.4 billion (Rs 17,672.40 crore) was spent on CSR in 2020-21, while $2.5 billion (Rs 18,473.41 crore) was spent in 2019-20.
Sitharaman added that the government monitors CSR compliance through disclosures made by companies in the MCA21 registry, and takes action against non-compliant firms as per the Act.
She also said that the boards of companies have the discretion to decide where to spend CSR funds and in what sector.
Sitharaman added that the government monitors CSR compliance through companies’ disclosures in the MCA21 registry, and takes action against non-compliant firms after due examination of records and following due process of law.
Union Finance Minister Nirmala Sitharaman stated that the boards of companies decide how to spend their Corporate Social Responsibility (CSR) funds and in what sector, and the government has no control over it.
She made the statement during a Question Hour session of the Lok Sabha, where she also reported that Indian companies spent.
(India CSR)
