The Government is trying to create a database of projects that require funding, which can be tapped into by companies as part of their corporate social responsibility (CSR) initiative, Corporate Affairs Minister Sachin Pilot said.

Participating in the Google+ Hangout, an online video interaction, Pilot said district collectors and medical officers will be roped in and data on all such projects across the country would be made available on the Government Web site.

Stating that CSR was not a new phenomenon, Pilot said the concept had been practiced by corporations in the country over past several decades.

The Government’s intention is not to make CSR mandatory, but it will prescribe a set of guidelines, he said, while assuring companies that there would be no Inspector Raj in implementing the projects.

The CSR committee on the board of companies would have the final say on the projects that cab be taken up, Pilot said.

According to the new companies law that was recently cleared by the Rajya Sabha, any company having a net worth of Rs 500 crore or more, or turnover of over Rs 1,000 crore or a net profit of Rs 5 crore, will have to spend 2 per cent of their last three year’s average net profits on CSR activities.

Pilot also dismissed talk of likely misuse of the CSR provisions by political parties, saying would be enough checks and balances.

vishwanath.kulkarni@thehindu.co.in

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