PSUs asked to contribute to Swachh Bharat pool

Advised to deposit money they could not spend on CSR activities

GN Bureau | August 5, 2016


#PSU   #Swachh Bharat   #CSR  

The government has turned to state-run companies to contribute to an account created to finance the prime minister's Swachh Bharat programme. The department of public enterprises (DPE) has sent out an advisory, asking central public sector undertakings (PSUs) to deposit the money that they could not spend on corporate social responsibility programmes in the last fiscal in the Swachh Bharat Kosh, according to a report by the Economic Times. 

According to the new Companies Act, a company with a net worth of Rs 100 crore or more has to set aside a minimum 2 percent of the three-year average annual net profit for CSR activities. During the first year (2015-16) of the new CSR rules, PSUs spent about Rs 2,300 crore on CSR activities which was 71 percent of what they should have under the rules. During the last fiscal year, 460 companies including 51 PSUs spent a little over Rs 6,300 crore on CSR activities.

Corporate affairs minister Arun Jaitley, in a written reply to the Rajya Sabha in May, had said companies contributed Rs 42.64 crore to the Swachh Bharat Kosh. They also spent Rs 15.49 crore towards the 'Clean Ganga Fund'. If the PSUs put in all the unspent money in the account, that would be close to Rs 1,000 crore.
 

Comments

 

Other News

BMC announces Rs 52,619.07 crore budget

Mumbai’s municipal commissioner and administrator Iqbal Singh Chahal on Saturday announced a Budget of Rs 52,619.07 crore for 2023-2024, an increase of 20.67% over a revised budget estimate of Rs 43607.10 crore for 2022-23. The overall budget size has doubled in five years. In 2017-18

Making sense of the ‘crisis of political representation’

Imprints of the Populist Time By Ranabir Samaddar Orient BlackSwan, 352 pages, Rs. 1105 The crisis of liberal democracy in the neoliberal world—marked by massive l

Budget: Highlights

Union minister of finance and corporate affairs Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament on Wednesday. The highlights of the Budget are as follows: PART A     Per capita income has more than doubled to Rs 1.97 lakh in around

Budget presents vision for Amrit Kaal: A blueprint for empowered, inclusive economy

Union Budget 2023-24, presented by finance minister Nirmala Sitharaman in the Parliament on Wednesday, outlined the vision of Amrit Kaal which shall reflect an empowered and inclusive economy.  “We envision a prosperous and inclusive India, in which the fruits of development reach all regions an

Soumya Swaminathan to head M S Swaminathan Research Foundation

Former World Health Organisation (WHO) chief scientist Soumya Swaminathan takes charge as chairperson of M S Swaminathan Research Foundation (MSSRF) from February 1.   Founded by her father, the legendary agricultural scientist M S Swaminathan, MSSRF was set up to accelerate the use of m

m-Governance: Key to Digital India

The digital revolution is being led by India. Digital governance is a key component of the government's ambition to transform India into a society where everyone has access to the internet. It includes both M-governance and E-governance, which are major methods for the delivery of services via mobile devic

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter