< 1 min read
April 6, 2016
India has been collecting 2% of companies' profits to distribute to charity for two years; so far the socialist project is not paying equal dividends for charities.
"India is the first country in the world to enshrine corporate giving into law. Following a change in company law in April 2014, businesses with annual revenues of more than 10bn rupees (£105m) must give away 2% of their net profit to charity. Areas they can invest this money in include education, poverty, gender equality and hunger.
"At the time India’s policy-makers said the law would release much-needed fundsfor social development, while critics warned of a tick-box mentality and efforts at evasion."--Oliver Balch, The Guardian