Cabinet approves continuation of scheme on Indian Institute of Corporate Affairs beyond 12th Plan Period
Press Information Bureau
Government of India
Ministry of Corporate Affairs
22-November-2017 15:55 IST
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for continuation of the scheme on Indian Institute of Corporate Affairs (IICA) for another three financial years (FYs 2017-18 to 2019-20) and providing Grants-in-aid of Rs.18 crore to the Institute. It will make the Institute self-sustainable by the end of FY 2019-20
Impact:
Background:
The National Foundation for Corporate Social Responsibility (NFCSR) at IICA is responsible for Corporate Social Responsibility (CSR) initiatives. The Foundation has been designed around the new provisions of Companies Act, 2013. The NFCSR conducts various activities in partnership with Corporates in the field of CSR, oriented towards social inclusion.
IICA is a think-tank and repository of data and knowledge to support rational decision-making for the policy makers, regulators as well as other stakeholders working in areas related to the corporate sector. It offers services to stakeholders in the field of corporate laws, corporate governance, CSR, accounting standards, investor education, etc. Various activities of IICA also help first-generation entrepreneurs and small business for imparting multi-disciplinary skills as they are unable to afford to employ separate experts in management, law, accountancy, etc.
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