Subscribe to
Mumbai News

Govt plans to urge companies to up CSR spend

  • Govt plans to urge companies to up CSR spend
    Summary: MUMBAI: The state government plans to meet representatives of India's top 100 private companies in October to encourage them to invest more in corporate social responsibility (CSR) activities. "The government is keen to know the problems faced by companies while making contributions towards CSR activities. As per the notified rules, all private firms have to spend 2% of their average profit of the previous three years on CSR activities specified by the government. "We are planning to meet representatives of companies so that they can work properly for the benefit of the society. State finance minister Sudhir Mungantiwar has decided to meet the company representatives and encourage them to increase their CSR spend through proper planning.

    mango-maza

    MUMBAI: The state government plans to meet representatives of India's top 100 private companies in October to encourage them to invest more in corporate social responsibility (CSR) activities. As per the notified rules, all private firms have to spend 2% of their average profit of the previous three years on CSR activities specified by the government. However, many companies spends less than that. State finance minister Sudhir Mungantiwar has decided to meet the company representatives and encourage them to increase their CSR spend through proper planning. The meeting is scheduled to take place at Raj Bhavan, and will be attended by governor Ch Vidyasagar Rao too.

    "We are planning to meet representatives of companies so that they can work properly for the benefit of the society. There should not be any duplication of work. They should not invest in sectors where government is already putting in efforts," said the finance minister. "The government is keen to know the problems faced by companies while making contributions towards CSR activities.

    Source: http://timesofindia.indiatimes.com/city/mumbai/Govt-plans-to-urge-companies-to-up-CSR-spend/articleshow/49109294.cms


    Subscribe to Mumbai News
Download the NYOOOZ app now