New CSR form to enhance corporate compliance, help govt in keeping a tab

With the Ministry of Corporate Affairs (MCA) introducing an extensive format for reporting corporate social responsibility (CSR), experts say while there is huge increase in the compliance burden, the exercise will enable the government to generate an extensive database of  CSR activities in the country.

“Currently, the government is aware of the amount that is being spent on CSR, but it will now be able to track where this amount is being spent, utilised, and how,” said Ankit Singhi, partner, Corporate Professionals.

The government had mandated that Corporate India publish a comprehensive report on their specific CSR initiatives. With the