Arun Jaitley: Inheritance tax has spurred large endowments to hospitals, universities in the West
Analysing the means of funding for India's healthcare and educational bodies as against the global ways, Jaitley said such institutions in the country receive donations from religious groups and CSR programmes.
Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least 2 per cent of their three-year annual average net profit towards Corporate Social Responsibility (CSR) activities. Reuters