India`s CSR law creates massive opportunities

From The Economic Times:

Given the mandate it is estimated that nearly 16,500 companies will invest Rs 22,000 crore towards CSR,” Vijay Ganapathy from EY India’s advisory services said speaking at a seminar on CSR.

He said as per the provisions of the new Companies Act, any company having a turnover of more than Rs 1,000 crore or a networth of over Rs 500 crore or a net profit of over Rs 5 crore, has to spend 2 per cent of their annual net profit on CSR activities.

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