The government has notified much-awaited
rules for corporate social responsibility (CSR) that has in its ambit a wide
range of activities including livelihood enhancement
projects and
steps for the benefit of armed forces veterans.
The Ministry of Corporate Affairs has notified
the CSR rules and they would come into effect from 1st April.
Under the new laws that govern companies,
spending on CSR or social welfare activities is mandatory for certain class of
firms. They are required to shell out at
least 2 per cent of their three-year average annual profit towards such works. In an official release on Thursday, Corporate
Affairs Minister Sachin Pilot said the rules have been finalised after
extensive consultations with all stakeholders.
Under the new laws that govern companies,
spending on CSR or social welfare activities is mandatory for certain class of
firms. They are required to shell out at
least 2 per cent of their three-year average annual profit towards such works.
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