Role of Corporate Sector via CSR route

With the consolidation of CSR activities, many companies are creating community livelihood linkages by incorporating them into their supply Corporate Social Responsibility (CSR) chain processes. The foundation of new age CSR has encourages organizations to protect the interests of set in. The CSR ecosystem is getting a boost as the communities by taking responsibility for the impact 17 Sustainable Development Goals (SDGs) adopted they are creating on people, planet and profits. India by the UN in 2015 are becoming the pivotal areas for has become the maiden country in the world with the corporate sector to act upon through C R legislated CSR provisions. Ministry of Corporate activities. The most efficient C R activities ensure that Affairs has issued voluntary guidelines on CSR in while the company complies with legislation, their 2009. These guidelines were incorporated with the investments empowers the marginalized Companies Act, 2013. The companies that are communities. In Indian context, in the past, literacy covered under CSR ambit are contained in sub was the key element in philanthropic models. In this section 1 of Section 135 of The Companies Act, 2013. new era, skill development and livelihood creation is The following categories of companies have to follow the primary focus. Education has evolved beyond the provision of CSR: basic writing and reading competencies; it is the skills

(i) Companies having net worth of Rs 500 crore that matters. Strategic investments in skilling for the or more; or bottom line of the community can directly affect the

(ii) Turnover of Rs 1000 crore or more; or bottom line of businesses.

(iii) Net profit of Rs 5 crore or more

SR-the Harbinger for Empowerment

Empowerment of the Marginalized is the improvement of their socio economic status by developing and building capacities and improving quality of life. This is the key responsibility of the government, but corporate sector initiatives are required for scale, speed and creating best practices for others to emulate. Businesses concentrate on a particular community where they are located, so it is easier for them to understand the issues, challenges
and the ensuing opportunities for the marginalized that can be garnered through CSR project.

Government flagship programmes like Make in India, Start-up India, Skill India and Digital India can be promoted by the CSR projects. These programmes have a cascading effect in empowering the marginalized in many ways as these interventions make them more educated and skillful and generate massive job opportunities.

Role of Corporate Sector via

Complete Study Material For UPSC Exam 2018, 2019

This is Only Sample Material, To Get Full Materials Buy The Gist 1 Year Subscription - "Only PDF" Click Here

Click Here to Download More Free Sample Material

Go Back To Main Page

Courtesy: Yojana