Implementation of CSR Provisions Under the New Companies Act

Year 2014-15 being the first year for implementation of provisions relating to expenditure under Corporate Social Responsibility for eligible companies, it is premature to assess the number of companies covered within its ambit or to estimate the amount to be spent on CSR activities by companies.

To respond to doubts and queries of the corporate sector regarding provisions relating to Corporate Social Responsibility, the Companies (Corporate Social Responsibility Policy) Rules, 2014 have been notified and clarificatory circulars have also been issued.

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today.