The parliament has stated on May 3rd that the companied has spent over RS.42 crores towards “Swachh Bharat Kosh” as part of their corporate social responsibility (CSR) activities during 2014-15 and the funds were used for achieving the objective of improving the cleanliness levels in rural areas and also in urban areas including schools.
Sources have stated that as many 460 companies have spent a little over Rs. 6,337 crores for CSR activities last financial year and it also includes 51 PSUs which has spent Rs.2,386 crores and in a written statement which was made to Rajya Sabha the Corporate Affairs Minister Arun Jaitley has told that companies have spent nearly Rs.42.64 crores in Swachh Bharat Kosh plan and firms have also spent around Rs.15.49 crores towards “Clean Ganga Fund” during the period which was under the review.
The new Companies Act , mandates that every company with a net worth of Rs.100 crores to set aside minimum of 2% of their three year average annual net profit for the CSR activities and Arun Jaitley has told that a high level committee has recommended for conducting a review of the CSR provision of the Act after three years.
The committee which was set up by the Corporate Affairs Ministry has suggested steps for monitoring the progress of implementation of CSR policies which has submitted its report during September.
