Modern Rules of Corporate Social Responsibility in India

Corporate social responsibility has to do with the business practices that involves innovations that benefits the society. This encompasses a wide variety of tactics, from the implement of greener commercial operations to giving a part of the company’s profits to charity. Corporate social responsibility in India has now become one of the standard practices of our time. For most committed to the corporate social responsibility it signifies kudos and greater overall reputation. The establishment of corporate social responsibility strategy is an important part of a company’s competiveness. This means having procedures and policies in place which link environmental, social, ethical, consumer or human rights concern into core strategy and business operations

The corporate social responsibility rules is a law that widen the range for amenable obligations to include subsidiary and holding companies.  The activities that can be undertaken by companies in fulfilling the corporate obligations include poverty, right of the girl child, eradicating hunger, promotion of gender equality, promoting preventive healthcare, setting up homes for orphans, women and senior citizens, animal welfare, war widows etc. Nevertheless, in determining the activities to be undertaken by corporate social responsibility, preference would need to be give areas where the company operates and its local areas. The corporate social responsibility states that a firm which doesn’t meet the stated criteria for a period of three financial years consecutive isn’t needed to comply with the CSR obligation, implying that a company not satisfying any of the specified criteria in a subsequent financial year would still need to undertake CSR activities unless it ceases to satisfy the specified criteria for a continuous period of three years. This could increase the burden on small companies which do not continue to make significant profits.

Currently, the integration of corporate social responsibility programmes by firms on a fundamental level appears as predominant as ever. Due to the importance of Corporate Social Responsibility, most companies have professional CSR teams that formulate strategies, policies and goals for their own CSR programs. This has budgets set aside to financially fund these programmes. These CSR programmes are most times predicted by a social philosophy which have a clear goal that is well-planned and supports to the business mainstream of the company. CSR in India programmes ranges from various community development to development in environment, healthcare etc. for most company, it is better to educate the girl child as their sole corporate responsibility to the host city

 

Author’s Bio

Hussein Black enlightens on the modern rules of corporate social responsibility in India and how companies are integrating their social responsibility in their program for the rights of a girl child.