Government today made public CSR spending of more than 7,300 companies in 2014-15, totalling Rs 8,803 crore, but the amount spent by over 60 per cent of the entities was shown as zero. Among the 7,334 companies, Reliance Industries spent the highest amount of Rs 760.6 crore towards corporate social responsibility (CSR) activities in 2014-15.
Rejecting reasons cited for not spending on CSR, MCA has told companies that they can contribute to the Prime Minister’s Relief Fund to meet their targets. The ministry of corporate affairs (MCA) has criticized companies for failing to meet the mandatory spending requirement on corporate social responsibility (CSR) initiatives.
Companies spent around Rs 5,082 crore or 92.7% of the mandated Rs 5,478 crores on CSR activities. The Nifty 50 companies have spent about 27% more in CSR (corporate social responsibility) activities this year, compared to last year, said a report by CimplyFive Corporate Secretarial Services, a tech solution provider for compliance. According to the …
Nifty 50 companies’ 2016 CSR spending rise by 27% Read More »
Minister for Industries and Commerce, Chander Parkashrecently inaugurated various works under ‘Corporate Social Responsibility’ initiatives being undertaken by United Phosphorous Limited (UPL) at Vijaypur and Ramgarh. The initiatives which were dedicated to the public included, toilet facilities at Govt Higher Secondary Schools Vijaypur and Ramgarh constructed at a cost of Rs. 3.5 lakh.
In order to integrate concrete CSR commitments into corporate compliance programs, a company must establish how each commitment translates into performance requirements for the relevant business units and departments. The nature of these requirements may differ considerably depending on a company’s industry and operating context, and the extent and nature of their CSR commitments.
