Govt to review CSR criminal penal provisions: FM Nirmala Sitharaman

Less than 1% of large corporates pays corporation tax at 30%, with the rest at 25%

Finance Minister Nirmala Sitharaman assured the industry that the government would review the criminal penal provisions on corporate social responsibility (CSR) contained in the recent amendments to the Companies Act. 

Addressing members of the Confederation of Indian Industry (CII), she said CSR notices with retrospective effect “were unacceptable” and that she would put a stop to them. 

Amendments to the Companies Act have empowered the government to put the officers concerned in jail for up to three years, besides imposing monetary fines if they do not adhere to CSR norms. 

After the new amendments, firms will have to spend on CSR, and the