http://www.readability.com/articles/kfp0hol4The law will require companies with market capitalisation of more than 5 billion rupees to spend 2 percent of their annual net profits on corporate social responsibility (CSR), such as social work or charity."Corporate social responsibility is a new concept in terms of Indian legislation. India is perhaps the first country in the world to have CSR in statute," Corporate Affairs Minister Sachin Pilot told the news channel CNBC-TV18.
"The reason we've done this is to make sure that companies that are large and profitable for a certain amount of years are able to qualify to do CSR."
Can we have a similar law for politicians who have assets of more than a few crores?