National Corporate Social Responsibility Awards

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News:President of India will present the National Corporate Social Responsibility Awards (NCSRA) on 29th October, 2019 in New Delhi.

Facts:

About the awards:

  • The National CSR Awards are the highest recognition in the domain of CSR by the Government of India.
  • The Awards have been instituted in 2017 by the Ministry of Corporate Affairs.
  • The objective of the award is to recognize corporate initiatives in the area of CSR to achieve inclusive growth  and sustainable development.

Additional information:

About CSR:

  • Corporate social responsibility (CSR) was initiated through the Companies Act, 2013.
  • The act mandated companies and government organisations with (a)turnover of Rs1,000 crore or more(b)net worth exceeding Rs 500crore or (c)having more than Rs 5 crore in net profits to spend 2% of average net profit of the preceding three years on CSR.