Monday, Aug 10, 2020 | Last Update : 11:35 AM IST

139th Day Of Lockdown

Maharashtra51533235171017757 Tamil Nadu2969012386384927 Andhra Pradesh2278601387122036 Karnataka178087939083198 Delhi1454271305874111 Uttar Pradesh122609726502069 West Bengal95554671202059 Bihar7972051315429 Telangana7949555999627 Gujarat71064542382652 Assam5883842326145 Rajasthan5249738235789 Odisha4592731785321 Haryana4163534781483 Madhya Pradesh3902529020996 Kerala3433121832109 Jammu and Kashmir2489717003472 Punjab2390315319586 Jharkhand185168998177 Chhatisgarh12148880996 Uttarakhand96326134125 Goa871259575 Tripura6161417641 Puducherry5382320187 Manipur3752204411 Himachal Pradesh3371218114 Nagaland27819048 Arunachal Pradesh215514823 Chandigarh151590425 Meghalaya10624906 Sikkim8664971 Mizoram6082980
  Business   Economy  30 Nov 2017  CSR spending rose to Rs 9,882 crore in 2015-16: Chaudhary

CSR spending rose to Rs 9,882 crore in 2015-16: Chaudhary

PTI
Published : Nov 30, 2017, 5:29 pm IST
Updated : Nov 30, 2017, 5:29 pm IST

CSR expenditure of companies for year 2015-16 from annual financial statements filed with govt.

Union minister P P Chaudhary.
 Union minister P P Chaudhary.

New Delhi: Companies spent nearly 12 per cent more money at Rs 9,882 crore towards CSR works in 2015- 16, Union minister P P Chaudhary said on Thursday even as he appealed to companies to contribute more to such activities.

He also said that a host of government programmes, including Swachh Bharat Mission and Namami Gange, provide opportunities for corporates to meet their CSR mandate under the companies law.

 

Under the Companies Act, 2013, certain class of profitable entities have to spend at least 2 per cent of their three-year average annual net income towards Corporate Social Responsibility (CSR) activities in a financial year.

"We have analysed the CSR expenditure of the companies for the year 2015-16 from the annual financial statements filed with the government. We have found that the actual CSR expenditure was Rs 9,822 crore which is 11.57 per cent higher than that of previous year," the minister said.

The CSR provisions came into force from April 1, 2014.

"I hope that the India Inc will continue to accentuate their contribution for CSR in the coming years," Chaudhary, the Minister of State for Corporate Affairs, said.

 

Speaking at an event organised by industry body CII, he also said the government has launched a host of programmes, plans and schemes to address social development challenges.

"This has opened a host of opportunities for companies not only to meet their CSR mandate but also to collaborate with the government in their nation-building efforts," he noted.

At a CSR Summit and Awards function organised by industry body Ficci, Chaudhary said companies through their CSR activities are playing an important role in building the nation.

Skill development and entrepreneurship development cannot be viewed in isolation, the minister said, adding that they should be an integral part of employment and economic growth strategies which in turn would help spur employability as well as productivity.

 

Further, he said that companies through their CSR initiatives are working on various issues plaguing today's youth such as those related to health, water, environment and livelihoods.

"We are aware that engaging young people in policy dialogues and decision making processes are chief determinants in the socio economic empowerment of youth ... They (youth) and they also contribute to overall sustainable social economic, environmental and cultural development," he said.

Tags: p p chaudhary, csr, investment, companies
Location: India, Delhi, New Delhi