For optimal management of corporate social responsibility (CSR) funds, the state government is all set to constitute a ‘Rajasthan CSR Authority’. Conceived on the lines of a similar body formed by the Gujarat government, the authority will act as a facilitator for industries to carry out their mandatory CSR activities in the state.
The overall contributions of businesses to sustainable development underpin the concept of Corporate Social Responsibility (UNES 2007). It is termed differently in several circles. While companies prefer using the term CSR or Corporate citizenship, non-governmental organizations and some governments prefer social investment.
The Minister said this after inaugurating various development works taken up by Coromondal International Ltd, Bari Brahmana. Exhorting upon the corporate entities to play a proactive role and take up sustainable initiatives under the Corporate social responsibility,
In 2014-15, nearly Rs 8,029 crore was spent by Indian companies towards Corporate Social Responsibility (CSR) initiatives. An amendment to the Companies Act in 2014, made it mandatory for companies to put aside 2% of their average net profit of the three preceding financial years, for social causes.
Plenty of companies do a lot of great work when it comes to corporate social responsibility. And many companies are generous with their flexible and remote work policies. But very few see these two things as having much, if anything, to do with each other.
