"Businesses cannot be successful when the society around them fails."
The concept and practice of Corporate Social Responsibility has not been new or alien to India's culture. Of course, it has, thus far, been purely
voluntary; essentially philanthropic in nature.
On 27 February, 2014, Government of India has notified rules for CSR, leading to transition from voluntarism to mandatory requirements for
investing at least 2 per cent of their net profits for organizations having a minimum net worth of Rs. 500 crore or annual turnover of Rs. 1,000 crore or
those having a net profit of at least Rs. 5 crore a year.
Eligible CSR Activities
The activities eligible for CSR funding under the Act include eradication of hunger, poverty, illiteracy, reducing child mortality combating HIV, AIDS, and
other diseases, apart from ensuring environmental sustainability and enhancing vocational skills or contributions to the Prime Minister's National
Relief Fund or other such funds which promote welfare of weaker sections of the society, apart from women and minorities.
A conservative estimate suggests that an amount of Rs. 5,000 - 7,000 crore is expected to be available under the Act, every year, which is
substantial to make its impacton the social sector. There is a challenge how best to utilize the funds earmarked under this sector. The utilization of
these funds calls for identification of projects, where each organization would like to focus, formulation of suitable projects, Their professional
implementation and above all, regular, concurrent monitoring, which are an absolute must to ensure that the purpose for which this concept and
institution has been set up, is being met with in full.
However, we believe CSR is not the prerogative of the corporate alone which come under the ambit of the law. CSR has to come from within. CSR is everyone's
responsibility. Even a humble effor t made in improving or touching a life is a big CSR effort. After all it is CSR which leads to
sustainable development and inclusive growth.
Why CSR WORLD?
The Future of Sustainability
"When the wind blows there are those that build walls and then there are those that build windmills."
There is an urgent need to bring all these issues relating to the objectives, policies, programmes, implementation and monitoring on the table. There
would be a continuing need to ensure 100% compliance of the new law. There would also be a need for revisiting vision for future CSR and to keep
the plans and programmes in step with this evolving sector. This does call for a forum, which is proposed to be provided in the form of a new
monthly, vibrating, incisive and analytical magazine - CSR WORLD. This forum would be promoting and churning out out-of-box viewpoints of those, who
are into the business of CSR. Our approach would be to offer a forum for exchange of views, notes and experiences of those formulating and
implementing the CSR programmes in various public and private sector organizations. Let us get going with the CSR WORLD, which aims at being an
exclusive initiative launched by the passionate professionals from media and industry. This is an invitation to each of the professionals in CSR sector
to come out full throated on 'why' and 'why not' of each aspect of CSR projects, starting from their concept through fruition.
This calls for your contributions by expressing your views and your open support that we very highly value.