7 January, New Dehli
The Corporate Affairs Ministry has revamped a company law schedule to add more activities that may be included by companies in their corporate social responsibility (CSR) policies.
The revamp comes in the wake of nearly one lakh suggestions received by the Ministry, said Sachin Pilot, Minister of State for Corporate Affairs, on the sidelines of the 12th edition of Pravasi Bharatiya Divas (PBD) here, adding that the schedule on CSR activities had been modified and expanded.
“We felt there is no harm in upfront expanding the list of activities since so many suggestions have come in this area,” Pilot said, adding that the CSR rules had been forwarded to the Law Ministry for vetting.
The Corporate Affairs Ministry has tried to accommodate as many suggestions as possible and the CSR rules will soon be notified, he said.
The revamped schedule will be flexible and exhaustive. It will also provide more freedom to the board in choosing their CSR activity, Pilot said.
Earlier, in his address at the PBD event 2014, Pilot said India was now a favourable destination for not only investments, but was also looking to be one for ideas and skills.
“We want to be a hospitable place to business. We have eased up the process of getting information (from the Ministry) and also for setting up business here. They will be made easier as we move along in future,” he said.