Page 4 - CRISP-Newsletter-Feb-2024

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How can CSR become better, going forward?

Many points came up during the formal presentations
and informal deliberations at the conference.
1. Firstly, it was felt that the present stipulation
regarding the quantum of CSR funding is adequate
and the government must resist any call for
increasing CSR share beyond two percent of
profits. This is a valid point. Companies pay taxes,
too. In that sense they are contributing to nation
building as taxpayers. In addition to that they are
contributing to nation building through CSR as well.
Creating more burdens on companies may turn out
to be counter-productive. Thus CSR policy should
remain stable in the coming future.
2. Secondly, there is a need to incentivise CSR
spending beyond the area of influence of the
company. Increasing CSR spending in North-East
regions and island territories is necessary. At
least, those companies that operate virtually and
nationally should find ways to channel their CSR to
these areas.
3. Thirdly, the company representatives strongly felt
that there is the need to establish rules by which
companies can jointly implement CSR projects in
collaboration or through syndication. At least an
enabling legal provision can be considered by the 5. Fifthly, Governments must avoid the temptation to
Government. pool the CSR funds into any government controlled
4. Fourthly, for better implementation of CSR, the funds, unless there is a calamitous emergency. By
companies must interact with local government and large the funds must be left in the hands of the
authorities for designing and implementing companies and they should conceive, design and
projects. If any innovation or experiment is found implement programs under CSR. The diversity of
successful, it is only the government that can scale approaches and strategies and stories of success
up to a state level or all India level scheme and or failures will be very valuable for crafting robust
policy. development strategies for the future.
6. Lastly, it is also necessary that various CSR initiatives
are properly documented in regard to the nature
of problems identified, intervention designs,
implementation strategies and success or failure. This
documentation could provide valuable insights to the
policy makers for designing schemes in the areas of
health, education, environment and livelihood.
Conclusion:

The groundbreaking concept of CSR has produced
positive results for our country. Every new experiment
shows certain limitations and shortcomings. These will be
addressed in due course of time. It is quite clear that the
CSR concept has stabilised and will continue in the years
to come. We can hope to see many successful projects
implemented by the companies, and also some of these
success stories becoming part of schemes and policies
implemented on a larger scale by state and central
governments. by the companies, and also some of these
success stories becoming part of schemes and policies
implemented on a larger scale by state and central
governments.

MAASAM | FEB | 4