The Government is trying to create a database of projects that require funding, which can be tapped into by companies as part of their Corporate Social Responsibility (CSR) initiative, said Corporate Affairs Minister Sachin Pilot.

Participating in the Google+ Hangout, an online video interaction, Pilot said District Collectors and medical officers will be roped in and data on all such projects across the country would be made available on a Government Website.

Stating that CSR is not a new phenomenon, Pilot said the concept has been practised by corporates in the country over the past several decades. The Government’s intention is not to make CSR mandatory, but to prescribe a set of guidelines, Pilot said while assuring that there would be no inspector raj in implementing the projects.

The CSR committee on the board of companies would have the final say on projects to be taken up, Pilot said. According to the recently approved companies law, every company having a net worth of Rs 500 crore or more, or a turnover of over Rs 1,000 crore or a net profit of Rs 5 crore, would have to spend two per cent of the average of the previous three years’ net profits on CSR activities.

On concerns over the possible misuse of CSR by political parties, Pilot said there would not be political interference and that there would be enough checks and balances.

Anand Mahindra, Chairman and Managing Director, Mahindra and Mahindra; Aditya Puri, MD, HDFC Bank; Rakesh Bharti Mittal, Vice-Chairman and Managing Director, Bharti Enterprises were among those who participated in the online video interaction.

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