Amendment in CSR rules to give impetus to impact assessment

The Corporate Affairs Ministry (MCA) has taken various measures to give a further boost to CSR spending by business group.

The government has asked companies having any amount in their unspent corporate social responsibility accounts to set up a CSR committee. 

That rule 3(2) asking to look back for 3 years is not applicable now, according to experts.

In rule 8, in sub-rule (3), in clause (c),- (i) for the words “five percent”, the words “two percent.” shall be substituted

The quantum of CSR funds for India Inc is in the range of Rs 25,000 crore annually and proper Assessment of impact done