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fiinovation554 · 4 years
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The trend highlights the impact of the Companies Act, 2013 that has made CSR a mandatory component of corporate operations. However, CSR is also a moral obligation for businesses to improve the environment and lives
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fiinovation554 · 4 years
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There is immense scope for corporate houses to contemplate and undertake CSR ideas on ground. Nevertheless, what is required is the will at the corporates’ end to accomplish the same.
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fiinovation554 · 4 years
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The probability of errors and omissions increases significantly when the initiatives are based on desired outcomes. However, the case is entirely different when initiatives are based on well-researched facts and figures. Some of the factors to be taken into account while doing the groundwork for CSR
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fiinovation554 · 4 years
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These beneficiaries could be impacted by CSR activities in terms of healthcare, primary, secondary and higher education, skill training and the environment where they live.
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fiinovation554 · 4 years
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This is the reason why companies undertaking CSR activities in India should have a prudent vision to visualize needs and outcomes and plan the execution of initiatives accordingly.
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fiinovation554 · 4 years
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As per a recent journalistic report by Indian express, 70 percent patients consult a doctor only at terminal stage, contributing to cancer deaths at 2.2 million every year, out of the global figure of 8.8 million. These facts leave us intimidated. One of the reasons for an increase in a number of deaths is, due to lack of awareness about the disease, symptoms, and treatment, not only in rural spaces but in urban spaces as well.
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fiinovation554 · 4 years
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CSR in developing countries like India has played a significant role as the majority of the population living here is deprived of economic and social growth status. Such an idea of Social responsibility is also evolved in the modern corporates too. For the new generation
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fiinovation554 · 4 years
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There is a perception that partner NGOs or local implementation agencies do not share adequate information and make efforts to disclose information on their programs, address concerns, assess impacts and utilize funds.
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fiinovation554 · 4 years
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According to CSR act 2013, “every company, private limited or public limited, which either has a net worth of Rs 500 crore or a turnover of Rs 1,000 crore or net profit of Rs 5 crore, needs to spend at least 2% of its average net profit for the immediately preceding three financial years on Corporate social responsibility
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fiinovation554 · 4 years
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These corporates are partnering with NGOs to plan & carry their CSR Initiatives in critical areas like education, sanitation, environment, health-care, water etc. Alongside this, the major focus of NGOs was to raise funds from philanthropists or donors.
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fiinovation554 · 4 years
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The recent announcement by govt. on considering all disaster-related expenditure towards CSR is an opportunity for corporates to spend more resources, time and money in strategizing ways to mitigate climate change and implement effective disaster management.
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fiinovation554 · 4 years
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The enactment of the law is only a stepping stone. A lot depends on the will of the corporations to execute the plan into actions. The target constituencies should be encouraged to take benefits of the CSR initiatives. The government should also work hard to remove any obstacle that the corporations might run into. The resolve of companies and government
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fiinovation554 · 4 years
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One only has to take a close look at the CSR portfolio of prominent Indian companies prior to the implementation of the Act. They often didn’t have a full-fledged CSR Strategy in place
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fiinovation554 · 4 years
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The law made CSR a permanent and mandatory fixture of an organization’s business activities. However, at the same time, it incorporated an element of flexibility that allows corporations to design a CSR strategy that is in alignment with the business domain of their organizations
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fiinovation554 · 4 years
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The issue chosen can either be related to their core business or something different. However, the ways in which organizations implement their CSR activities in India have also changed substantially. Besides earmarking and doling out funds for societal welfare
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fiinovation554 · 4 years
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CSR activities in India have been on the upswing for some time now. The trend highlights the impact of the Companies Act, 2013 that has made CSR a mandatory component of corporate operations. However, CSR is also a moral obligation for businesses to improve the environment and lives of people impacted by their activities.
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fiinovation554 · 4 years
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These people mostly live in underdeveloped rural and semi-urban areas and often live below poverty line. They earn a fraction of what their skilled and educated compatriots earn in cities. Some even live below poverty line. Owing to this, most of them don’t have access to basic services and suffer from poor quality
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