CSR Need for Nation Building - Fiinovation
With the introduction of CSR clause in the Companies Act, 2013, there has been a recent erupt in concentration towards CSR with lot of dialogues, seminars and events on the subject .
Online, February 11, 2014 (Newswire.com) - With the introduction of CSR clause in the Companies Act, 2013, there has been a recent erupt in concentration towards CSR with lot of dialogues, seminars and events on the subject . While the Schedule VII of the Act has put emphasis on a range of involvement, it has also left the decision making on the carefulness of the Board level CSR Committee. This is indeed a big landmark as far as the present and the future of CSR in India is concerned.
India is seeing a phase of conversion at a rapid pace. We have managed the global slowdown quite well and have waded through it with minimal impacts. India has got into the reckoning as an investment destination and also for the pool of talent particularly in the IT space. The time is ready now for all the stakeholders to play their roles more aggressively in this journey towards growth the country.
India still rank poorly in Human Development Index, poverty and hunger still exists in many parts of the country, quality of education in rural areas, generating gainful employment for the youth, gender equity, housing, infrastructure development, rural - urban divide and so on continue to challenge and have the potential to weaken the entire growth story that the country is proud of.
These are some issues that require attention of not only the govt. but other stakeholders as well. Needless to say, that the business in India cannot sustain in the long term with this contrasting story. Growth cannot sustain in isolation. Therefore, there is a call for action from the business in India to go beyond the aspect of mitigating their personalized impacts. Of course, they are and will continue to remain primary to any business, but the country needs them to play a more important role in reasonable and inclusive socio - economic development of the country.
Fiinovation thinks some of the major areas that the business could contribute are skill development, education and healthcare along with other areas like infrastructure development, waste and sanitation, portable drinking water, renewable energy etc. Business should utilize their management expertise and investments in innovating through research and development to address some of these concern.
Fiinovation
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