Under new corporate social responsibility norms, companies spend '163 crore more than the requirement
GN Bureau | November 8, 2016
The spending under corporate social responsibility (CSR) by the NSE listed companies has seen a huge increase of 28 percent in 2015-16. The Companies Act (2013) has statutory provisions, making CSR mandatory for companies with net worth of Rs 500 crore or more, turnover of at least Rs 1,000 crore or net profit of at least Rs 5 crore. Such companies are required to spend at least 2 percent of their average net profits of last three years on CSR activities, while constituting a separate committee on their board. The law, implemented from April 2014, makes India the only country with a legislated CSR.
According to Prime Database, which has done the analysis, the average net profit of the 920 listed companies over last 3 years was Rs 4.60 lakh crore. As per the CSR provision, the companies were required to spend Rs 9,146 crore. The companies, however, spent Rs 9,309 crore, which is Rs 163 crore more than the requirement.
Triumph of the Indian Republic: My Life, My Struggles By Ram Nath Kovind Rupa Publications, 400 pages, Rs 795 All our presidents so far stand out, each for a different reason. Ram Nath Kovind, the 14th president of India, from 2017 t
Pathbreakers: How 10 Visionary Leaders Transformed India by award-winning journalists By Sucheta Dalal and Debashis Basu Rupa Publications, 304 pages, Rs 695
In a significant gain for citizen protection in the digital economy, the Department of Telecommunications (DoT) has helped prevent suspected cyber fraud losses of more than ₹5,000 crore through its Financial Fraud Risk Indicator (FRI) within fifteen months of its launch on May 22, 2025. This money did
The Defence Acquisition Council (DAC), under the chairmanship of Raksha Mantri Rajnath Singh, on Monday accorded Acceptance of Necessity (AoN), that is, in-principle administrative approval to various acquisition proposals of the defence forces at an estimated cost of about Rs 1,10,000 crore.
There`s a certain moment in diplomacy that`s too personal to be captured in a communiqué, too small to make the front page, but more revealing than the front page. This week, prime minister Narendra Modi reached Tashkent and, amid the pomp of state visits, managed to evoke the old Bollywood tunes
India became the 123rd WTO member to ratify the multilateral Agreement on Fisheries subsidies (AoFS) when it deposited the Instrument of Acceptance for Phase 1 on July 20, 2026. The ratification is restricted to disciplining Illegal, Unreported and Unregulated fishing (IUU), protection for overfished
