Private sector spends more than double on CSR than state-run companies
According to data provided by the Minister of State in the Ministry of Corporate Affairs, Arjun Ram Meghwal, private companies spent Rs 5,665 crore while public sector companies spent Rs 2,364 crore in 2014-15.
Private sector companies spent nearly Rs 5,700 crore in 2014-15 on Corporate Social Responsibility (CSR) activities, compared to the nearly Rs 2,400 crore spent by government-owned companies.
According to data provided by the Minister of State in the Ministry of Corporate Affairs, Arjun Ram Meghwal, private companies spent Rs 5,665 crore while public sector companies spent Rs 2,364 crore in 2014-15.
The Government of India made it mandatory for companies that have an annual turnover of Rs 1,000 crore or more, or a net worth of Rs 500 crore or more, or a net profit of Rs 5 crore or more, to set aside 2% of their profits for CSR, under the Companies Act.
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