Insta
Rs 50,000 Crore Contributed By Corporates Through CSR In The Last Five Years, Says Government
IANS
Oct 29, 2019, 02:50 PM | Updated 02:50 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
The corporate sector has set aside over Rs 10,000 crore every fiscal year since 2014-15 towards corporate social responsibility, President Ram Nath Kovind said.
He said the Companies Act was amended in 2013-14 making it mandatory for companies with a specified level of profit to spend 2 per cent of it on social welfare.
He gave away the first CSR awards on Tuesday (29 October), instituted by the Corporate Affairs Ministry.
MoS Finance Anurag Thakur said the companies over the last 5 years have contributed Rs 50,000 crore and above towards CSR.
Corporate affairs secretary Injeti Srinivas said the companies have spent Rs 50,000 crore cumulatively over the last five years on social welfare activities.
Maximum funds have been given to projects for poverty alleviation, safe drinking water, education, health.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.