Page 2 - Csr Spending
CSR spending: Rise in number of firms going beyond 2% mandate, says report
Companies who are not required to spending allocating budgets for CSR are spending
 "CSR spending: Rise in number of firms going beyond 2% mandate, says report")
CSR initiatives: 44 listed firms included cows in charity work since FY15
It's now five years since CSR was made mandatory under the Companies Act, 2013
 "CSR initiatives: 44 listed firms included cows in charity work since FY15")
Just contributing money is not what govt expects through CSR, says Srinivas
What we urge upon you (companies) is proactive participation and not passive participation, said Corporate Affairs Secretary Injeti Srinivas
 "Just contributing money is not what govt expects through CSR, says Srinivas")
CSR expansion to boost research impact, rankings for public universities
Scope of CSE spending extended to public funded universities, IITs, national labs and autonomous bodies engaged in research in science, technology, engineering and medicine
 "CSR expansion to boost research impact, rankings for public universities")
CSR law flawed, India needs inclusive growth: US professor Aneel Karnani
There is no attempt by the government nor the press to even attempt to measure the outcomes
 "CSR law flawed, India needs inclusive growth: US professor Aneel Karnani")
No jail for CSR violation: FM Nirmala Sitharaman to business leaders
In meet with Sitharaman, industry seeks Rs 1-trillion stimulus package and lower lending rates
 "No jail for CSR violation: FM Nirmala Sitharaman to business leaders")
India Inc worried over three-year jail provision for violation of CSR norms
According to new CSR norms, a company has to earmark a part of its profit towards social activities and transfer all unspent amount into an escrow account (if it is an ongoing project)
Social projects bypassed as firms spend CSR funds to curry favour with govt
A disaggregated look at the spending leads to the disturbing conclusion that CSR funds are becoming subject to political pressures
Bulk of CSR spent on developed states; Maharashtra, Karnataka top the list
A fifth of CSR spends between 2014-15 and 2017-18 was spent in Maharashtra, Gujarat, and Karnataka
 "Bulk of CSR spent on developed states; Maharashtra, Karnataka top the list")
CSR spends have a geography problem as charity begins and ends at home
Funding is largely limited to states where industry is concentrated; those with low industrialisation are likely to have been starved of critical funds
 "CSR spends have a geography problem as charity begins and ends at home")
Make CSR effective
Deferment of expense beyond a year can't be allowed
Total CSR spend by top Indian companies may cross Rs 500 bn by March 2019
The government in 2014 made mandatory for companies to spend 2 per cent of their three-year average annual net profit on CSR activities in each financial year, starting from FY15
Centre plans to make 2% CSR spending mandatory for Life Insurance Corp
LIC Act does not have CSR provisions; the corporation had a surplus fund over Rs 440 billion
 "Centre plans to make 2% CSR spending mandatory for Life Insurance Corp")
Companies spent Rs 16.51 billion towards CSR works in Odisha
Education and Skill Development, Rural Development and Health Care categories have received the maximum allocations under CSR
 "Companies spent Rs 16.51 billion towards CSR works in Odisha")
One in three BSE 100 firms falls short in CSR spending
Corporate affairs ministry sending notices seeking details of fund disbursal
 "One in three BSE 100 firms falls short in CSR spending")
CSR spending surges 12% to Rs 9,882 cr in 2015-16: Govt
The CSR provisions came into force from April 1, 2014
CSR spending can go up to Rs 14,000 crore: FM Jaitley at Axis Bank event
This makes a significant amount if added to the government's initiative towards the social sector
 "CSR spending can go up to Rs 14,000 crore: FM Jaitley at Axis Bank event")
