As per the new regulations in the making, it will become mandatory for a company to spend 2% of net profit
Union corporate affairs ministry has put the onus of performing corporate social responsibility (CSR) on industry, as the Companies Bill is set to be tabled before the Parliament. “The government wants to have a hands-off approach as far as CSR is concerned. It is upon the companies to decide what they have to perform and can report that online also. If they fail to do so, they will have to show the reason,” said Sachin Pilot, Union Minister for Corporate Affairs, while speaking at a chamber meeting in Kolkata on Sunday.