The Government on Monday said it has not issued any guidelines regarding reporting of spending by firms towards social welfare activities and that suitable norms would be in place after the new companies bill comes into force.
“The Ministry has not issued any guidelines for reporting of Corporate Social Responsibility (CSR) spending by companies,” Corporate Affairs Minister Sachin Pilot informed the Rajya Sabha in a written reply.
“However, after the Companies Bill, passed by the Lok Sabha and under consideration of the Rajya Sabha, comes into force, suitable rules/guidelines will be issued to give effect to the provision of CSR contained in Clause-135 of the Bill,” he added.
To a question on spending on affirmative action for those belonging to Scheduled Caste (SC) and Scheduled Tribe (ST), the Minister said that a ” Coordination Committee on Affirmative Action (CCAA) in the private sector” has been set up which is serviced by the Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry.
“That department has recently circulated a proforma among Industry Chambers to monitor the quarterly progress of action taken by the chambers,” he added.