Quick Summary
The Government has made changes to the Corporate Social Responsibility (CSR) Rules and the recent amendments in the Companies (CSR Policy) Rules, 2014 have been notified on 22ndJanuary 2021. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance Corporate Affairs, in a
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FAQ :
The recent amendments to the Companies (CSR Policy) Rules, 2014 were notified on 22nd January 2021.
All data related to CSR filed by companies, including Aspirational District-wise data, is available in the public domain on www.csr.gov.in, the National CSR Data Portal.
The CSR expenditure by all companies in Aspirational Districts for the financial year 2019-20 was INR 104.04 crore (data up to 30.09.2020).
The amendments aim to strengthen the CSR ecosystem by improving disclosures, simplifying compliances, increasing objectivity and transparency, and entrusting more responsibility to the company's Board.
Key highlights include mandatory registration of implementing agencies, enhanced role of the board in fund utilisation, flexibility in spending, treatment of unspent amounts, impact assessment of projects, and enhanced disclosure of CSR activities.
Yes, the Government has instituted the National Corporate Social Responsibility Awards (NCSRA) to recognise outstanding contributions by companies through their CSR activities, including in Aspirational Districts.
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