Now, India Inc can Deploy CSR Funds on Research
India’s spending on Research and Development (R&D) activities has been far less than 1% of the GDP for years, with the private sector chipping in less than half of investments. The Companies Act requires firms with a net worth of ₹500 crore, turnover of ₹1,000 crore or net profit of ₹5 crore or more to set aside 2% of their average net profits over the last three years towards ‘approved’ CSR activities.