Friday, September 20, 2013

Indian companies forced into charity | Sky News Australia

Indian companies forced into charity | Sky News Australia: ndia's government still struggles to provide reliable basic services to a majority of its citizens, trapping hundreds of millions of them in poverty. Now the country's richest firms have been told they must help.

Under the new amended Companies Act passed in August by parliament, large businesses have been asked to spend two per cent of their profits each year on 'Corporate Social Responsibility' (CSR).

'The idea is that if we could divert some corporate energy and the corporate way of doing business into our development sector, for a country like India it could help enormously,' the head of the Indian Institute of Corporate Affairs (IICA), Dr Bhaskar Chatterjee, explained.

No comments: