TOP STORIES

Jaya slams DMK's family rule

Chennai: In a scathing attack on the DMK without naming it, AIADMK general secretary and Chief...... Read More >>

Tamannaah in Rohit Shetty’s next with Ranveer

'Bajirao Mastani' star Ranveer Singh and actress Tamannaah Bhatia will star in filmmaker Rohit...... Read More >>

Hollywood stunt show in VGP Universal Kingdom

VGP Universal Kingdom has come up with a thrilling live 'Hollywood Wild West Stunt Show', that has...... Read More >>

OPS denies link to AIADMK and cash seizures

Theni: Denying that AIADMK cadres were involved in distributing cash to voters in the run-up to...... Read More >>

TN parties bet on Hindi in Tamil heartland

Chennai: "Hamare Egmore kshethr key ummidwar Shriman K S Ravichandran (DMK) ko aap apna...... Read More >>

MOST POPULAR

VIDEO

41 CPSEs failed to comply with CSR norms in 2012-13: CAG

Tuesday, 5 August 2014
PTI

New Delhi: Forty one central public sector enterprises, having annual profit of atleast Rs 10 crore, failed to comply with government's spending norms on social welfare activities during 2012-13 fiscal, apex auditor CAG said today.

A review of the CSR budget/expenditure by the CPSEs during 2012-13 was conducted in respect of 103 central public sector enterprises (CPSEs) with profit of above Rs 10 crore.

"Out of the 103 CPSEs, 41 CPSEs did not comply with the DPE guidelines in terms of the minimum CSR budget/expenditure.

The compliance was not satisfactory in case of CPSEs earning profit between Rs 10 crore and Rs 500 crore, as 29 out of 65 CPSEs failed to comply with the guidelines".

"Out of 38 CPSEs with profit of more than Rs 500 crore, 12 CPSEs did not comply with the minimum requirement," the Comptroller and Auditor General (CAG) said in a report.

Under the new Companies Act, certain class of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR) activities.

The government is also working on rationalising the CSR norms for public sector enterprises in tune with the new companies law.

At present, public sector entities follow CSR guidelines of the Department of Public Enterprises (DPE).


      

Today's E-Paper

Polls

Did Congress manifesto create a ripple?