CSR funds: Maha govt to meet companies for removing hurdles

Maharashtra government will soon meet top executives of 100 Indian companies to sort out the hurdles faced by them while contributing funds under the Corporate Social Responsibility (CSR).
The state government will also provide them with diverse range of options to spend their money.
The Companies Act, 2013 mandates that corporates with more than Rs 5 crore of net profit must use at least 2 per cent of its over three years for a list of activities mentioned under CSR rules.
Maharashtra Finance Minister Sudhir Mungantiwar recently took the initiative to encourage the corporate sector to plan and invest in CSR activities so that all sectors develop simultaneously.

Mungantiwar said the government will hold a meeting with representatives from 100 companies at Raj Bhavan, the Governor's residence.
"We will meet companies representatives next month at Raj Bhavan so that we can plan out ways in which they can invest for the benefit of society. We do not want them to put in money where the government is already putting efforts," Mungantiwar told PTI.

"We are also keen to know of problems faced by companies while contributing for CSR activities and will try to simplify the process of CSR investment," he added.
The minister further said that the state government is also interested to get more response and public participation for campaigns like 'Swachha Bharat Abhiyan', 'Jal Yukt Shivar Abhiyan and 'Digital India' along with programmes for Women and Child Development and activities of forest department.

Meanwhile, an official from the state finance department said that the government will also make two presentations to companies representatives to inform them more about the sectors.
According CSR policy rules, private firms can work in eradicating hunger, poverty and malnutrition, promoting preventive healthcare and sanitation, homes and hostels for women and orphans, old-age homes, day-care centres and other such facilities for senior citizens.