The new Companies Bill 2009 in India has proposed laying guidelines for corporate social responsibility (CSR). Minister of Corporate Affairs Salman Khurshid has said the objective of incorporating CSR in the Companies Bill is to guide India Inc on the way of making money that helps inclusive growth.
Corporate Affairs Secretary R. Bandopadhyay said that CSR is one area in which Indian President Pratibha Patil takes a huge interest and that the Bill seeks to make CSR an integral part of corporate governance. The guidelines would allow India Inc to take voluntary initiatives, as well. However, principles would be laid so that it becomes mandatory for India Inc to mitigate with the climate change issues.
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