A Parliamentary panel suggested that the central public sector enterprises (CPSEs) should spend money under the CSR obligations on development of the remote backward areas of the country.
The committee is also of the view that as provided by the Companies Act 2013, it is an obligation of a company to be concerned with the well-being of its local populace and environment, the resources of which are being directly utilised by them. “…the committee also holds the view that CPSEs should take into account the development of remote backward areas of the country,” the panel, in its report presented in Parliament today, said.
These are areas where the pace of industrial development has been slow due to their geographic location, it added.
