Structure for spending on CSR activities is well drafted under law: Sitharaman
Updated: Oct 08, 2014 04:43:26pm
New Delhi, Oct 8 (KNN) The structure for social welfare spending under the new companies law is “absolutely well drafted” allowing corporates to spend money towards CSR activities in a clear way without any ambiguity, Minister of State for Corporate Affairs, Nirmala Sitharaman said today.
Speaking at an event organised here by Indian Social Responsibility Network, Sitharaman said that the heads under which CSR spend has to be made have been well defined and the spending can be done in a clear way without any ambiguity.
“Under the law the structure for spending on CSR activities is absolutely well drafted,” she added, as quoted in a media report.
While responding on a query whether Swachh Bharat Abhiyan would also be included in CSR rules, the minister said that various heads (for social welfare spending) have already been defined by the law.
“With Prime Minister’s emphasis on Swachh Bharat Abhiyan ...it is up to the corporates on whether to join. The law has clearly stated the heads on which CSR spend has to be done,” she said.
The CSR ambit includes livelihood enhancement and rural development projects, working towards protection of national heritage, art and culture, including restoration of buildings and sites of historical importance and works of art, setting up public libraries, promotion and development of traditional arts and handicrafts. (KNN/SD)
Speaking at an event organised here by Indian Social Responsibility Network, Sitharaman said that the heads under which CSR spend has to be made have been well defined and the spending can be done in a clear way without any ambiguity.
“Under the law the structure for spending on CSR activities is absolutely well drafted,” she added, as quoted in a media report.
While responding on a query whether Swachh Bharat Abhiyan would also be included in CSR rules, the minister said that various heads (for social welfare spending) have already been defined by the law.
“With Prime Minister’s emphasis on Swachh Bharat Abhiyan ...it is up to the corporates on whether to join. The law has clearly stated the heads on which CSR spend has to be done,” she said.
The CSR ambit includes livelihood enhancement and rural development projects, working towards protection of national heritage, art and culture, including restoration of buildings and sites of historical importance and works of art, setting up public libraries, promotion and development of traditional arts and handicrafts. (KNN/SD)
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