05 March, 2020
3 Min Read
Syllabus subtopic: Government Policies and Interventions for Development in various sectors and Issues arising out of their Design and Implementation.
Prelims and Mains focus: about the amendments and their significance; about CSR
News: The Union Cabinet approved the proposal to amend 65 sections of the Companies Act.
The amendments are based on the recommendations of a high-level panel set up in September 2019. If passed by Parliament, these would be the second set of amendments to the Act over the last year, as the law was already amended last July 2019.
Objective of the amendment:
Significance of the amendments
The changes are expected to significantly enhance the confidence of Indian corporates in the government’s resolve to provide greater ease of doing business and accord highest respect to honest wealth creators in the country and reduce the burden on the justice system.
What is Corporate Social Responsibility (CSR)?
Corporate Social Responsibility in India
The methodology of CSR
CSR is the procedure for assessing an organization’s impact on society and evaluating their responsibilities. It begins with an assessment of the following aspects of each business:
Source: The Hindu
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