Corporate Social Responsibility Spend for 2014-15-Analysis of NIFTY companies

Corporate Social Responsibility (CSR) has been in the limelight since the passage of the new Companies Act, 2013. As per the Act, companies falling within the threshold limits, had to spend 2% of their Average Net Profits of the past 3 years towards CSR activities, in the ensuing year. The first year of implementation was 2014–15. This article describes the CSR as per the Act and the Rules there under, an analysis of the spend by the NIFTY companies (company wise and industry wise), recommendations of the High Level Committee on CSR/Company Law Committee and draws some conclusions. In the end, certain suggestions have been given for future implementation