CSR disclosure rules set to be tightened to increase accountability

At least 33 companies or a third of those on the S&P BSE 100 list have fallen short of the required CSR spending

The Ministry of Corporate Affairs will soon be changing the rules on the reporting of corporate social responsibility (CSR) activities by companies, a senior government official told Business Standard.

No longer, it appears, would it suffice companies to only state the amount spent on such projects. The government will demand details of the CSR activity and what was achieved, among other things, the official said.

However, the rules will be relaxed for companies with a smaller legal CSR obligation. “The new norms are on the anvil. We will trust your (company’s) disclosure. As of now, we are not getting the