The government today said it has asked companies for suggestions to incentivise corporate India's contribution to social and environmental programmes.<br/><br/>Corporate Affairs Minister Salman Khurshid said on the sidelines of a BIMTECH summit in New Delhi that these issues need to be debated threadbare for their possible incorporation in a new Bill.He further said not only companies but shareholders too should take up Corporate Social Responsibility,CSR, initiatives as citizens.<br/><br/>Our correspondent reports,in December last year, the Corporate Affairs Ministry introduced voluntary CSR guidelines for companies. <br/><br/>Among other things, the guidelines provide for companies to allocate specific amount in their budgets for CSR activities and put up the information on CSR policy on their websites and in annual reports for the benefit of the stakeholders and the public at large.<br/><br/>The Minister has also mooted the idea of making CSR initiates quantifiable so that it could be traded on an exchange.The suggestion would mean that a company that does not want to carry out CSR activities would have to purchase CSR credits from other companies that have earned them.<br/>
News On AIR | April 9, 2010 6:30 PM
Centre seeks suggestion from companies on corporate social responsibility