Corporate Social Responsibility refers to business practices involving initiatives that benefit society. It is not a new concept in India however the companies act 2013 provided for statutory guidelines to CSR in Rajasthan along-with with rest of India.
As per section 135 of The Companies Act-2013, the companies which fulfils the following criterion during any financial year:
- Having net worth of ₹500.00 crore or more;
- Turnover of ₹1,000.00 crore or more;
- Net-profit of ₹5.00 crore or more during any financial year,
are required to spend 2 percent of the average net profits of the Company made during the three immediate preceding financial years in activities stated in Schedule-VII.
According to Section-135 of Companies Act, 2013, CSR companies are directed to submit their CSR reports to Registrar of Companies, Ministry of Corporate Affairs, Government of India. State Government has no role to play in monitoring implementation of CSR by Companies.
Rajasthan Government Initiatives
The state government of Rajasthan has taken various initiatives to promote & facilitate CSR activities by corporates in the state.
Rajasthan CSR Web Portal
- Rajasthan CSR Web Portal (www.csrrajasthangov.in) is a unique interactive portal created by Department of Industries, Government of Rajasthan.
- This portal is designed to identify and listing of CSR companies, CSR projects/programmes within the State. Companies can directly find out the implementing agencies and can recommend a CSR project to them.
Rajasthan CSR Authority
- In November 2019, the State Government has notified Rajasthan CSR Authority to guide, monitor, and partner companies for achieving scale and improving efficiency in implementing social welfare projects.
- The three-tier authority will be represented by the chief minister, chief secretary, additional chief secretary of industries, and commissioner of industries besides senior officials from various departments.
Updates of CSR Activities in Rajasthan
Upto March, 2019, a total of 117 Corporates, 19 Government Departments, 207 implementing agencies & 33 service providers have registered themselves on the CSR portal. The amount of ₹572.9 crore is estimated to be incurred in 146 CSR projects across areas.
As per information received from 134 Companies which are operating in the State, the CSR expenditure incurred by them is shown in table below:
*Article is updated on the date of publishing.