Maharashtra plans to urge companies to up spending

GN Bureau | September 28, 2015


#Governor Ch Vidyasagar   #Maharashtra   #CSR   #Companies Act  


For better management and to make a difference in the society, the Maharashtra government plans to meet 100 private companies’ representatives in October to encourage them to invest more in corporate social responsibility (CSR) activities.

As many companies spends less than mandated 2% of their profit, Maharashtra finance minister Sudhir Mungantiwar has decided to meet the company representatives and encourage them to increase their CSR spend through proper planning. Maharashtra is a industrialized state and has many corporate offices in Mumbai.

Governor Ch Vidyasagar may also attend the meeting to be held at Raj Bhavan.

"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. The government is keen to know the problems faced by companies while making contributions towards CSR activities. We will try to simplify the CSR investment process. The state wants response from companies and public towards its initiatives like Swachh Bharat Abhiyan, Jal Yukt Shivar scheme, Digital India, women and child development programmes and forest department activities. We will make presentations on these sectors," said a finance department official.

According to the government's CSR policy, private companies can work towards eradicating hunger, poverty and malnutrition and promoting preventive healthcare and sanitation, homes and hostels for women and orphans, oldage homes, day-care centres and other similar facilities.

The state government will also provide them with diverse range of options to spend their money. The Companies Act, 2013 mandates that corporates with more than Rs 5 crore of net profit must use at least 2 per cent of its over three years for a list of activities mentioned under CSR rules.

“We are also keen to know of problems faced by companies while contributing for CSR activities and will try to simplify the process,” he added. The minister also said the state government is interested in getting more response and public participation for its campaigns.

Comments

 

Other News

Cabinet approves museum at North-South Block complex

The Cabinet Committee on Economic Affairs, chaired by prime minister Narendra Modi, on Wednesday has approved the development of the Yuge Yugeen Bharat Museum (YYBM) at the North and South Block Complex, New Delhi, at an estimated total project cost of ₹3,230 crore, as appraised by the Public Investmen

Cabinet approves extension of Noida metro corridor

The Union Cabinet, chaired by prime minister Narendra Modi, has approved the extension of Aqua Line Metro Rail Corridor from Noida Sector-51 to Greater Noida Sector-04 of Noida Metro Rail Project with corridor for a length of 8.449 km with 5 elevated stations. On operationalization of this corridor, Noid

India reaffirms commitment to climate multilateralism

India has reaffirmed its commitment to climate multilateralism and the principles of Equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC), calling for a fair, equitable and ambitious outcome at the 31st Conference of the Parties (COP31) to the United Nations Framewo

How the mind can help the body heal itself

Why do some people recover from illness against all odds? Can our beliefs, emotions and consciousness influence the body’s ability to heal? Drawing on over three decades of experience in medicine, research and medical innovation, internationally trained ophthalmologist and author Dr Dinesh Verma ex

1,364 anti-cancer formulations to cost less from today

The National Pharmaceutical Pricing Authority (NPPA), under the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, has capped trade margins on the Maximum Retail Price (MRP) of 137 anti-cancer drugs. This was based on the recommendations of an Expert Committee constitute

Who checks the books?

I read about the news about the Coimbatore library over coffee this morning. On the face of it, the headline was about a political ‘war’ between the DMK and TVK. But what stayed with me was something much more important than the blame game behind what had transpired. A writer walking through

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter