Industries must work with NGOs: KTR
Industries must work with NGOs: KTR, CSR is a good initiative which was mandated through legislation, but should have been more voluntary,” said IT minister KTR while inaugurating a seminar on \"Corporate Social Responsibility (CSR) — from Invention to Implementation\" at Fapcci Hall, Red Hills on Saturday.
They can help implement Corporate Social Responsibility
“CSR is a good initiative which was mandated through legislation, but should have been more voluntary,” said IT minister KTR while inaugurating a seminar on "Corporate Social Responsibility (CSR) — from Invention to Implementation" at Fapcci Hall, Red Hills on Saturday. The seminar was organised by Abhaya Foundation and was graced by 500 corporate heads, promoters, directors, industrialists, professional bodies, chartered accountants, cost accountants and company secretaries.
Addressing the gathering, Rama Rao said, “India is a diverse country. It is so diverse that there are rich people who are probably some of the richest in the world and there are also poor people who are so poor that they are below the poverty line. There is an uneven distribution of economy. There is a wide gap between people of the same region. This void must be filled in. That is where I believe CSR comes into play and helps fill those gaps.”
He continued, “The government alone can’t do much. There may be lacunae in our policies. This is where corporates step in. They have responsibility towards the society, too.” “The companies which qualify for CSR are those with a turnover of over Rs 1,000 crore or an average net profit of Rs 5 crore or more in the last three years. There are around 20,000 companies in India that qualify for mandatory CSR spending. They have to spend two per cent of the profit after tax. It is mandatory to spend and also report to the government. What I appeal now is that all industry bodies must work with NGOs to devise guidelines within the purview of the law for the effective implementation of CSR. I also believe that the CSR spending in India is approximately Rs 28,000 crore per year. The Government of Telangana is committed to the idea of CSR,” Rao said.
Rajen Habib Khwaja, IAS, former secretary to the Government of India, Ministries of Tourism and Mines, while delivering his keynote address said, “Don't limit your vision to the three words of CSR, just because it is mandated. Think beyond that.” He talked about ISR – Individual Social Responsibility, FSR – Family Social Responsibility, GSR – Group Social Responsibility, NSR – National Social Responsibility and ISR –International Social Responsibility, insisting that these were the needs of the hour. Balachandra Sunku, company secretary and founder of Abhaya Foundation, said, “NGOs can work with companies to help implement their CSR initiatives. NGO collaboration is the strong foundation for powerful corporate social responsibility. NGOs can align with private-sector companies which can have excellent collective impact. The future is bright for corporate-NGO partnerships despite challenges.”
The other guests who graced the inaugural event include, MLA Ch Ramachandra Reddy; Chittori Suresh Raydu, President, CII, AP; and Shivakumar Rungta, founder of Abhaya Rungta, President of the FAPCCI, said, “Social Responsibility is the duty of every citizen and not merely the corporate companies.” He described how ITC, Infosys, Wipro were doing a yeoman service for the society through their philanthropic activities over the years.
Suresh Rayudu, president of CII Andhra Pradesh said, “We are creating a forum for exchange of ideas on this subject. CII already has active panels on CSR at each chapter level. We will work together with NGOs.”
Participating in the first Technical Session, Swami Bhodamayananda, Director of VHE, Rama Krishna Mutt, gave a 3H formula—Heart to feel, Head to think and Hand to work, and said that all company secretaries must commit their professional excellence to implement the 3H formula.