No jail for CSR violation: FM Nirmala Sitharaman to business leaders

In meet with Sitharaman, industry seeks Rs 1-trillion stimulus package and lower lending rates

There will be no enforcement of the penal provisions, including jail terms, recently inserted in the Companies Act for businesses not meeting the corporate social responsibility (CSR) obligation, said Finance Minister Nirmala Sitharaman.

She reportedly said so to delegations from business chambers at a meeting in her ministry. 

The representatives also asked for a Rs 1-trillion ‘quick fix’ stimulus to revive demand and consumption, saying economic growth has slipped to its lowest under the Narendra Modi administration.

Present were members from the Confederation of Indian Industry, Federation of Indian Chambers of Commerce and Industry, Associated Chambers of Commerce and Industry