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Only 1% of Indian companies required to follow CSR norms

By Religare
Only 1% of Indian companies required to follow CSR norms
The new Companies Bill might have made India the first in the world to make social welfare spending by companies part of the law but new norms would be applicable only on about 1 per cent of total active companies in the country.

The Companies Bill now requires companies to shell out two per cent of three-year average annual profit towards Corporate Social Responsibility (CSR) activities. It would be applicable to companies having either net worth of Rs 500 crore or more; turnover of Rs 1,000 crore or more; or net profit of Rs 5 crore or more.

Even though there are more than 13.29 lakh companies registered in the country, only nearly 9 lakh entities are active.

Going by the numbers, it would imply that only around one per cent of companies would be required to follow the CSR norms.

Dion Global Solutions Ltd.

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