CSR: CORPORATE SOCIAL RESPONSIBILITY IN INDIA:

Confusing and non-mandatory means voluntary as per Indian laws, Why to bother to know this then????

Because even if not compulsory corporate like TATA and Reliance are fulfilling this part upto their extent and the government is planning to make it mandatory for corporate fulfilling certain criteria. Moreover no knowledge is harmful at all.

In easy words corporate social responsibility commonly known as CSR is the return from the corporate to the society the resources for their intake from society. In more known words its like preserving resources while using them for our next generation. 

In December, 2009 Ministry of Corporate Affairs issued voluntary guidelines on CSR, summary of which is as follows:

Under the Corporate social responsibility the corporate shall recognise their responsibility towards their stakeholders (i.e. the shareholders, employees, suppliers, project effected people and society at large e.t.c), must ensure ethical functioning by compliance of all applicable laws and payment of taxes, respecting workers right and welfare, respecting human rights, preventing pollution and protecting environment and working for social and inclusive development.

To fulfill the corporate social responsibility it also given a frame work for complying it, which says there, should be proper planning and frame work for fulfilling CSR with the time schedules, allocation of amount, sharing experiences etc.

Big Indian corporate like TATA, Birla, Reliance etc already have their own CSR policies and they are doing it in their own manner. Like:

Tata Steel has influenced the integration of tribals in the economy in a less obvious and immediate way by propping up the education of tribal children and youth of various ages and at various stages of their academic career

Reliance Power says:  Health and safety are of universal concern across the spectrum of communities. As a company, we are not only committed to compliance with legal norms but it is our endeavour to voluntarily go beyond that and provide quality healthcare facilities in the regions around our site. We are committed to providing all possible support to create awareness on various health related issues impacting the local people. We believe in a multidimensional approach that considers the needs of the area leading to an effective plan to address all issues in consultation with the local administration, community workers and NGOs working in the area.

Yet now no mandatory norms for CSR have been issued by government and it still a matter of heated debate.

The information given in this blog is the personal understanding of the writer and shall not be used as a conclusive material the content stated/mentioned here is subject to changes by respective government/authorities in the applicable laws. Writer shall not be liable for any direct or indirect damages caused to any person acting solely on/based upon the information provided herein.