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GOVERNMENT OF INDIA
MINISTRY OF HEAVY INDUSTRIES AND PUBLIC ENTERPRISES
LOK SABHA
UNSTARRED QUESTION NO: 2402
ANSWERED ON:  04.08.2015
Funds under Corporate Social Responsibility
UDIT RAJ
NEELAM SONKER
SHARAD TRIPATHI
Will the Minister of



HEAVY INDUSTRIES AND PUBLIC ENTERPRISES be pleased to state:-


(a) the details of funds earmarked and utilised by the Central Public Sector Undertakings (CPSUs) including Maharatna, Navratna and Miniratna under Corporate Social Responsibility (CSR) during each of the last three years and the current year;

(b) the funds allocated by each CPSUs to various channelising agencies viz. NGOs/Trusts/Societies and the percentage of fund directly spent during the said period, CPSU-wise;

(c) whether the Government monitors the utilisation of funds under CSR and if so, the details thereof; and

(d) the policy of the Government for utilisation of CSR funds including on developmental work by these CPSUs and in the backward areas of the country?


ANSWER
THE MINISTER OF STATE FOR HEAVY INDUSTRIES AND PUBLIC ENTERPRISES
(SHRI G.M. SIDDESHWARA)

(a) to (d): The policy of the Government for implementation of Corporate Social Responsibility (CSR) by companies including Central Public Sector Enterprises (CPSEs) is provided in Section 135 of Companies Act, 2013 which states that all companies whose net worth is Rs. 500 crore or more, or turnover is Rs. 1000 crore or more or has a net profit of Rs. 5 crore or more are required to spend 2% of their average net profits of three immediately preceding financial years for activities specified in Schedule-VII of the Act. These provisions are to be complied with by all CPSEs including Maharatna, Navratna and Miniratna CPSEs with effect from 1.04.2014.
The responsibility of implementation lies with the respective Board of Directors of the CPSEs and the details for the first year for implementation of the provisions of Section 135 i.e. 2014-15 are not maintained centrally by Department of Public Enterprises.

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