Most CSR funds redirected, ensure efficient use: Minister Malhotra

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Most CSR funds redirected, ensure efficient use: Minister Malhotra - Business Standard

Quick Summary:

Most of the CSR fund, which should ideally be spent for the benefit of the society, remains unutilised and is redirected to other government funds, Union Minister of State for Corporate Affairs Harsh Malhotra here said.

According to Malhotra, who is also the Minister of State for Road Transport and Highways, the government mandates companies to spend 2 per cent of their annual profit on social causes and welfare.

Proper utilisation of CSR funds could significantly benefit the society," the minister said, according to a statement by the NGO.