Govt mulls mandatory 2% investment in CSR
New Delhi   11-Sep-2010

The government is considering to make it mandatory for all companies to invest 2% of their net profit in corporate social responsibility (CSR). The ministry of corporate affairs plans to incorporate it in the new Companies Bill, an official in the ministry said. The oil ministry has already made it mandatory for state-run oil companies such as ONGC, IOC, BPCL and HPCL. The proposal of the ministry is tabled in the Parliamentary Standing Committee. It will be debated threadbare as private companies have opposed the idea of any mandatory social spending limit.