Indian firms spent Rs 36,145 cr on corporate social responsibilty in 2019-21
December 12, 2022
Finance Minister Nirmala Sitharaman says that the board of any company decides where to spend the CSR amount and in what sector and the government has no control over it.
A total of Rs 36,145 crore has been spent by various companies across the country to carry out development activities as part of their Corporate Social Responsibility (CSR), Union Finance Minister Nirmala Sitharaman said in Lok Sabha on Monday
While Rs 17,672.40 crore has been spent under the CSR by the companies in 2020-21, Rs 18,473.41 crore has been spent in 2019-20, she said during the Question Hour.
"The government monitors the compliance of CSR provisions through the disclosures made by the companies in the MCA21 registry. Whenever any violation of CSR provisions is reported, action against such non-compliant companies is initiated as per provisions of the Act after due examination of records and following due process of law," she said.
Sitharaman said it was the board of any company which decides where to spend the CSR amount and in what sector and the government has no control over it.
Question Hour is the first hour of a sitting session of Lok Sabha devoted to questions that Members of Parliament raise about any aspect of administrative and governmental activity.
[Press Trust of India]