In the three years since Corporate Social Responsibility (CSR) rules were implemented, not much has changed in patterns of spending by the top 100 National Stock Exchange (NSE) listed companies by market capitalization. While education and healthcare continue to attract most of the monies, Maharashtra still sees the maximum inflow of CSR spends. The top 10 companies still account for almost half of the total CSR spend.
CSR Rules, which came into effect on 1 April 2014, state that companies with a net worth of Rs500 crore or revenue of Rs1,000 crore or net profit of Rs5 crore should spend 2% of their average profit in the last three years on social development-related activities such as sanitation, education, healthcare and poverty alleviation, among others, which are listed in Schedule VII of the Rules...Read more
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