Pilot to push for CSR tax rebates

Says he will approach the finance ministry the demand for incentivising CSR projects

The Ministry of Corporate Affairs will approach the finance ministry to incentivise industry on corporate social responsibility (CSR) projects through tax exemption, said corporate affairs minister Sachin Pilot, while addressing an industry conference organised by Ficci on Thursday.

Pilot said he would be happy to be the ambassador of industry and take up with the finance minister the demand for incentivising CSR projects through tax exemption and reliefs.

On the ongoing payment crisis of the National Spot Exchange Ltd (NSEL), Pilot said MCA would take a final decision regarding its course of action in the next few days. He said action would be taken against the companies that violate law.

"MCA is examining NSEL's non-compliance with the Companies law, and in a day or two, we are going to take a final decision on what needs to be done," said Pilot.

He added that an inter-ministerial panel looking into the NSEL issue, headed by economic affairs secretary Arvind Mayaram, was likely to submit its report in a day or two.

NSEL faces a crisis of settling Rs 5,600 crore dues to 148 members, representing 13,000 investor clients, after its trade was suspended on July 31 by government orders.