CSR
Government plans awards for CSR activities
Government plans to institute awards for corporate social responsibility (CSR) activities across sectors as part of efforts to incentivise companies to take up work towards social welfare.
The Corporate Affairs Ministry, which is implementing the Companies Act, is working on the idea of having such awards. Under the Act, a certain class of profitable companies is required to shell out at least 2 per cent of their 3-year average annual net profit towards CSR works.
Officials said the ministry is proposing to institute the awards for CSR activities across eight sectors, including education, health and environment.
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