New Delhi, Feb 21 (IANS) Finance Minister Arun Jaitley on Tuesday said that conventionally corporate philanthropy was lesser known in India, but it has begun well as an institutionalised mechanism in the form of corporate social responsibility (CSR).
"Conventionally corporate philanthropy lesser known in India. But it has begun well as institutionalised mechanism," Jaitley said here in his keynote address after felicitating the recipients of HCL Grant 2017.
Talking about the initial resistance when CSR was introduced in 2013, he said, "It was not free of doubt. There was some resistance. It was thought of as an additional tax."
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