Promotion of certain sports activities is CSR: Indian Govt
PTI: Promotion of certain sports activities is CSR, Minister of State for Corporate Affair Nirmala Sitharaman informed Rajya Sabha in a written reply yesterday. This is a welcome change and will encourage corporates to sponsor and encourage sports activities.
Social welfare expenditure by companies towards promotion of sports like the rural and national sports would be considered as a CSR activity. Under the new Companies Act, certain class of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR) activities.