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- Welfare Schemes under CSR for Tribals
The Corporate Social Responsibility (CSR) framework in India, governed by Section 135 of the Companies Act, 2013, mandates that companies meeting specific financial thresholds—a net worth of ₹500 crore, turnover of ₹1,000 crore, or net profit of ₹5 crore—must spend at least 2% of their average net profits from the preceding three years on social initiatives listed in Schedule VII. This framework is a Board-driven process, where the Board of Directors, supported by a CSR Committee, is responsible for the planning, execution, and monitoring of all activities, ensuring they balance local area preferences with national priorities. While the law encourages focusing on the communities where a company operates, this preference is directory rather than mandatory, and all compliance data is maintained transparently in the public domain via the MCA21 registry and the official CSR portal.
https://www.pib.gov.in/PressReleasePage.aspx?PRID=2244948®=3&lang=1
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Shweta Verma
CS Trainee View Full Profile
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