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.
There is a growing body of international research that suggests that companies with gender-diverse boards are better corporate citizens. These companies comply with legislation and they also have initiatives in place to meet their shareholders’ and stakeholders’ social and environmental demands.
Everybody knows businesses are there to make profit, but all over the world forward-thinking ones engage in various forms of corporate social responsibility (CSR) to benefit society. While some businesses undertake CSR occasionally, others have made it the core of their operations and dutifully carry it out without fail.
