(a) whether the Government proposes to amend the current rules under the Corporate Social Responsibility in order to promote and improve the accountability of the big corporates in the country in the midst of an economic slump and increase in pollution levels in the country;
(b) if so, the details thereof; and
(c) if not, the reasons therefor?
THE MINISTER OF STATE FOR FINANCE
AND CORPORATE AFFAIRS (SHRI ANURAG SINGH THAKUR)
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(a) to (c): Corporate Social Responsibility (CSR) for companies has been mandated through Companies Act, 2013. Section 135 of the Act enumerates the provisions concerning CSR and the Companies (Corporate Social Responsibility Policy) Rules, 2014 prescribes the rules for implementation. All these were notified on 27th February, 2014 and came into effect since 01.04.2014. The Companies (Amendment) Act, 2019 amended section 135 dealing with Corporate Social Responsibility. In order to operationalize the CSR provisions contained in the Companies (Amendment) Act, 2019 & recommendations of High Level Committee on CSR(HLC-2018), amendments to Companies (CSR Policy) Rules, 2014 has been proposed. The proposed amendments to Rules aims to streamline the process & implementation of CSR activities and are available in public domain at www.mca.gov.in.
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