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.
The international order is drifting into a dangerous grey zone as the very powers that built today`s multilateral system begin to chip away at it. The United States has increasingly walked away from global rules and forums when they no longer suit its interests, while China has rushed to fill the vacuum on
Prime minister Narendra Modi on Thursday saluted the courage, precision and resolve of the armed forces on the completion of one year of Operation Sindoor. The PM said that the armed forces had given a fitting response to those who dared to attack innocent Indians at Pahalgam.&
The strength of the Supreme Court is set to go up from 33 judges to 37 judges, paving the way for a more efficient and speedier justice. The Union Cabinet on Tuesday approved the proposal for introducing The Supreme Court (Number of Judges) Amendment Bill, 2026 in Parliament to amend The Sup
The political map of the country is set to be redrawn with the BJP set to win the West Bengal assembly elections, apart from Assam and the union territory of Puducherry. In Kerala, meanwhile, the Congress-led UDF is set to regain power. The filmstar Vijay-led TVK has emerged as the front-runner in Tamil Na
India, the second-largest importer and consumer of LPG after China, faces growing pressure due to supply constraints. Most of India`s LPG imports transit through the Strait of Hormuz, a focal point of global turmoil. Given that LPG forms the backbone of household kitchens and the restaurant industry, any s
The government has initiated preparations for Census 2026 in Maharashtra, introducing a hybrid approach that combines optional self-enumeration with comprehensive door-to-door data collection to ensure complete coverage across the state. According to senior officials, the Self-
