Channelize CSR Funding For Development Of Particular Sector Every Year
When we start working on this CSR Issue we found out that India Inc. spent Rs. 9822 crore on CSR during FY16 and this mammoth amount caught our attention that if such a fund would be channelized in a focused way to improve upon some social sector like Education, healthcare or even sanitation (as happened in Swachch Bharat Abhiyan during recent years), it would surely bring sea change on the ground and Human Development Index of the country will certainly improve. Abruptly an Idea came to our mind that, as CSR spending has been made mandatory for companies, government can also put forward a guideline to channelize the CSR fund towards some set agenda on yearly basis, say Education in one year and healthcare on other and all companies have to earmarked some amount (say half) towards the betterment of that sector during that year. Already PM Shri Narendra Modiji has initiated an outstanding campaign in the form of “Swachch Bharat Abhiyan” and the change that CSR spending has brought in into India’s sanitation problem is know to everybody. This can be taken as pilot and government can works as a catalyst to channelize CSR funds towards a designated sector and surely this single-minded approach can work wonder for Social development of the country.
This article is part of Special Issue of GDP Magazine on CSR. Governance Democracy& Politics (GDP) Magazine’s Special Issue on #CSR Takes A Deep Dive on the state of CSR Spending. It has a regressive database of 5000+ companies on CSR Spending.
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