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There was a 9% increase in the amount of unspent money reserved by companies listed on the NSE for mandatory social expenditures from fiscal year 2018 to 1,717 crore Rs, even though it was There was an 11% increase in total expenditures at Rs. According to one report, [traduction]
The unspent portion of Compulsory Corporate Social Responsibility (CSR) rose to 1,717 crore during the 2018 fiscal year, compared with 1,574 crore during the previous fiscal year, according to data released by Prime Database.
However, the agency did not explain why there was a lot of money left over. This could be due to the fact that there was no demand for money from third-party agencies or to increase the overall profitability of these companies.
The new Companies Act of 2013 requires publicly traded companies of Rs. 100 crore in annual profits or Rs 500 crore in annual turnover to reserve 2% of their profits for an affirmative / inclusive social action .
Only half of the 1,708 companies registered with the NSE have a CSR committee
However, the total expenditures of the 1,080 companies listed in the NSE that fall under the category of obligatory CSR expenditure of 2% have increased by 11% during the 2018 fiscal year to reach 10,030 crore against 9,060 crore the previous year.
In Over the last four years, since the introduction of mandatory CSR spending, the expenses of NSE-listed companies have increased at a compound rate of 16% per annum. The sports, technology nursery and slum sectors are the most neglected areas for companies that choose to spend money on their CSR spending.
Maharashtra tops the list of states receiving the most money for CSR, followed by Gujarat and Rajasthan, while eight states recorded lower spending.
The main companies on the list of expenses led by Reliance Industries at a crore of 745 Rs, followed by ONGC (503.44 crores), TCS (400 crores and HDFC Bank (374.54 crores), he said:
The expenditure target fell to 365 in year 18 from 361 in the previous year
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust , which controls Network18 Media & Investments Ltd.
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