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