"A State Level Council as a facilitating agency will help CSR planning of the corporate houses in line with development needs of the State," Chief Secretary A P Padhi said while presiding over a meeting attended by representatives of corporate houses, industry associations and chambers of commerce.
Participants in the meeting welcomed the Chief Secretary's proposal. They maintained that such an effort would be more useful both for corporate houses and the people, an official release said.
According to the existing provisions of the law, companies with a net worth of Rs 500 crore or more or turnover of Rs 1,000 crore or more or with net profit of Rs 5 crore or more, have to spend at least 2 per cent of their average net profit on CSR activities.
Officials said around 287 corporate houses have spent near about Rs 344.12 crore in CSR activities during 2014-15.
"Around 90 per cent of the funds have been spent only in 10 districts. CSR activities are also unsystematically spread across districts and various sectors of development," the meeting resolved.
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