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CSR Funds Not Used to Run Govt Schemes:Thakur V/s Bittu

Mar. 22 Economy, Politics Comments

(New Delhi) CSR Funds Not Used to Run Govt Schemes:Thakur V/s Bittu
Union Minister of State for Finance and Corporate Affairs Anurag Thakur on Monday said the government does not use the Corporate Social Responsibility (CSR) funds to run its schemes.
During the Question Hour in Lok Sabha, Thakur said so far Maharashtra (Rs 12700 crore) has received maximum CSR funds, followed by Gujarat (Rs 3926 crore) and Andhra Pradesh(Rs 3542 crore).
“We don’t use CSR funds to run the Centre’s schemes,”
The minister also asserted that the government does not interfere with regard to allocation of CSR funds by firms.
Under the Companies Act, certain class of profitable entities are required to shell out at least 2 per cent of their three-year annual average net profit towards CSR activities.
In case of not spending the requisite amount, the firms concerned have to provide reasons for the same.

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