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More Countries in India comply with corporate social responsibility norms According to a report, the 2013 statute stipulates that 76% companies will spend 2% or more of their profits on these plans during 2019.

KPMG's Indian Corporate Social Responsibility Report 2019 compiled by KPMG covers 100 The company also revealed that the number companies that committed to carry over 2% of the unspent amount increased by 150%.

of According to the regulations that came into effect on April 1, 2014, companies with net assets more than Rs 5 crore, companies with turnover of more than Rs 1 crore or companies with net profit of more than Rs 50 crore are to use 2% of their profits In corporate social responsibility (CSR) programs.

Eligible companies need to establish a corporate social responsibility committee, formulate policies, and implement projects in accordance with Schedule VII the Act.

Disclosures related to corporate social responsibility must be made in the annual report in the format prescribed by the law.

According to the report, the number companies that disclosed extension details in their annual reports increased by 325%. In addition, 30% of the companies studied in the report held more than three CSR committee meetings.

Partner Santhosh Jayaram said: "Although overall CSR spending is increasing, it is encouraging that the number authorized companies exceeding 2%, even those that do not need to allocate a budget for CSR and expenditure, is increasing." Head of Corporate Sustainability and Corporate Social Responsibility Advisory for Indian Companies.

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