Government shoul not penalise companies that fail to spend on corporate social responsibility

The government should abandon plans to penalise companies that do not spend money on corporate social responsibility (CSR). The new Companies Act mandates companies of a certain size to either spend money on CSR or explain why they do not. The law makes it clear that the board of directors will provide the reasons for not spending the money. However, there is a view within the government that penalties should be imposed on companies that fail to spend for two or more years, ostensibly not to l ..

Source: http://economictimes.indiatimes.com/opinion/editorial/government-shoul-not-penalise-companies-that-fail-to-spend-on-corporate-social-responsibility/articleshow/43120534.cms