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Mandatory CSR spend to cost India Inc Rs 8,700 cr a yr

Indian companies may have to collectively spend close to $2 billion (about Rs 8,700 crore) a year on CSR programmes if the government makes it mandatory for them to spend 2% of profits on social responsibility programmes, a study said today. Of late, the proposal from the Ministry of Corporate Affairs for making spending mandatory on Corporate and Social Responsibility (CSR) activities has been gaining favour across the country. "There are about 1,227 Indian listed companies who have posted profits for the last financial year. The total aggregate profits posted by these companies for ...