Page 3 - Latest Updates on CSR
Coronavirus lockdown: Congress calls for financial package of 5-6% of GDP
The opposition party also demanded that the Centre pays all pending dues to states to enable them to fight the outbreak, besides giving each of them special packages.
 "Coronavirus lockdown: Congress calls for financial package of 5-6% of GDP")
How Indian companies are contributing to the war against coronavirus
Corporate India is donating crores of rupees, supplying medical equipment and opening hospitals. Here's a look at some of the Business Groups that have opened their purse strings
 "How Indian companies are contributing to the war against coronavirus")
CSR in the time of coronavirus
PM-CARES offers a handy panacea for CEOs' CSR headaches
 "CSR in the time of coronavirus")
CSR spending: Rise in number of firms going beyond 2% mandate, says report
Companies who are not required to spending allocating budgets for CSR are spending
As CSR spends touch Rs 12,000 cr, investigators stalk ghost beneficiaries
Companies are stepping up scrutiny of how their money is spent
 "As CSR spends touch Rs 12,000 cr, investigators stalk ghost beneficiaries")
Companies spent Rs 11,867 cr on CSR activities in FY19; highest so far
Maharashtra tops the list; Bihar, N-E suffer with lower spends
 "Companies spent Rs 11,867 cr on CSR activities in FY19; highest so far")
CSR initiatives: 44 listed firms included cows in charity work since FY15
It's now five years since CSR was made mandatory under the Companies Act, 2013
 "CSR initiatives: 44 listed firms included cows in charity work since FY15")
Education sector received the lion's share of corporate CSR spend: Govt
Overall, companies in India spent over Rs 52,533 crore on CSR activities during the last four years
Just contributing money is not what govt expects through CSR, says Srinivas
What we urge upon you (companies) is proactive participation and not passive participation, said Corporate Affairs Secretary Injeti Srinivas
 "Just contributing money is not what govt expects through CSR, says Srinivas")
Is shareholder capitalism passe?
The emerging backlash against CSR and the resultant endorsement of shareholder capitalism make sense
 "Is shareholder capitalism passe?")
How social impact companies may help tap impact investment funds
The high-level committee on CSR recently released a report that recommended the creation of a new class of companies called social impact companies (SICs) under the CSR framework
 "How social impact companies may help tap impact investment funds")
Those in power must empathise
Apart from the hardware of macro-economic policy, officials in power must implement a software solution of listen, listen and listen
 "Those in power must empathise")
Criminal offences in Companies Act to be slashed, govt mulls 65 changes
The offences punishable with imprisonment, a fine, or both are compoundable, and offences punishable with imprisonment and a fine are non-compoundable
 "Criminal offences in Companies Act to be slashed, govt mulls 65 changes")
New CSR levy: A quasi tax
The approach to push companies, which do not see a business case for CSR, to invest in CSR activities is against the spirit of CSR
 "New CSR levy: A quasi tax")
CSR law flawed, India needs inclusive growth: US professor Aneel Karnani
There is no attempt by the government nor the press to even attempt to measure the outcomes
 "CSR law flawed, India needs inclusive growth: US professor Aneel Karnani")
Letter to BS: CSR committee wants non-compliance a civil offence
Replacing criminal responsibility with civil ones will ensure there is greater willingness from corporates to achieve a social objective
Power to issue directions just grew
This power can be intoxicating. It can give any regulator a serious high
 "Power to issue directions just grew")
Govt to review CSR criminal penal provisions: FM Nirmala Sitharaman
Less than 1% of large corporates pays corporation tax at 30%, with the rest at 25%
 "Govt to review CSR criminal penal provisions: FM Nirmala Sitharaman")
Criminal proceedings for economic offences sets a bad precedent: Experts
Companies Act amendment to include penal provisions for CSR violations is seen as part of a larger trend of criminalising economic offences rather than going for civil proceedings
An unnecessary law
Jail term for CSR law violation is a retrograde step