S Gopalakrishnan: Industry in constant dialogue with govt

According to him,industry leaders want the government to make explicit which type of spending will be accepted as fulfilment of corporate social responsibility. He said they would want to work with the government to bring clarity on the subject. Corporate social responsibility has been built in as an expected 2 per cent of profit spend for companies in the Companies Bill currently pending in the Lok Sabha. Parliament will reconvene on Monday for the second half of the Budget Session and it is expected that the Bill will be passed by the house on priority. It has already got the approval of Rajya Sabha.

According to him,the chamber is building a report that takes off from IFCs Doing Business to estimate a time frame when the economy could reach the top quartile of nations on business practices.

The 2013 edition of Doing Business report has ranked India 132 out of a league of 185 nations for the ease of opening,conducting and closing business.