What is Corporate Social Responsibility? Hindi information on Corporate Social Responsibility : In this post, what do you call us as social social responsibility and how much does it cost in India? Going to give full information of If you have heard about it for the first time then this post is going to be very interesting for you. Just keep focusing on the post and keep going. So let’s know what is Corporate Social Responsibility (CSR) in Hindi .
As we all know that companies use natural resources to make a product, it promotes pollution and fills their pockets.
Different people living in the society have to bear the loss of pollution caused by different types of companies and factories.
- What is a supercomputer and how does it work?
All these reasons led to the introduction of corporate social responsibility . Let me now tell you in detail what is Corporate Social Responsibility?
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What is Corporate Social Responsibility?
Corporate Social Responsibility (“CSR”) is a type of international private business that is self-regulated.
Due to poor pollution caused by the productive activities of these companies, the people living in the society suffer. They have to use bad water and air due to these.
This causes people around the company and factories to face a variety of diseases and many other troubles. But companies do nothing for this.
That is why it has been made compulsory for companies all over the world, including India, to invest part of their earnings on the welfare of the people who have facilitated them.
This is called Corporate Social Responsibility. This is called Corporate Social Responsibility.
Companies operate according to a business model that is compatible with law, ethical standards and international policy.
Under this, companies do some such works which will positively impact the environment, general public, consumers, employees and all.
Who comes under the purview of CSR in India?
The Corporate Social Responsibility (CSR) Rules came into force on 1 April 2014 in India.
According to the rules of India CSR, companies whose annual net worth is Rs 500 crores or annual income of Rs 1000 crores or annual profit is 5 crores.
The following companies have to spend on CSR, whose
- The annual net worth should be Rs 500 crore.
- Annual income should be Rs 1000 crore.
- And the entire drain is 5 crores.
It is necessary for such companies to spend on CSR. Also, this expense should be at least 2% of the 3-year average profit of the companies.
As per the CSR rules, the provisions of CSR do not only apply to Indian companies, but also to foreign companies in India, branches of foreign companies and project offices of foreign companies.
How much does CSR cost in India?
According to the data of the ministry, in 2015-16, Rs 9822 crore was spent in CSR activities. This was 11.5% higher than the previous year.
The year 2015-16 report included 5097 companies. Out of which only 2690 companies spent on CSR. Message Top 10 companies spent 3207 crores which is 33% of total expenditure.
The following are the top 10 companies.
- RELIANCE INDUSTRIES: 760.6 Crore
- ONGC: 495.2 Crore
- INFOSYS: 239.5 Crore
- TCS: 219 Crore
- ITC: 214.1 Crore
- MTPC: 205.2 Crore
- MMDC: 188.7 Crore
- TATA STEEL: 171.5 Crore
- OIL INDIA: 133.3 Crore
- WIPRO: 132.7 Crore
It is clear from the data that Reliance Industry spends the most on CSR in India.
How much is spent in which area?
- Health & Medical: Rs 3117 crore
- Education: Rs 3073 crore
- Rural Development: Rs. 1051 crore
- Environment: Rs 923 crore
- Swachh Bharat Kosh: Rs 355 crore
According to a recent survey, in the year 2016, 99% of companies in India have followed the CSR rules.
What activities are done in CSR?
Under Corporate Social Responsibility, companies have to participate in activities which are necessary for the welfare of the backward or disadvantaged sections of the society.
- End hunger, poverty and malnutrition.
- Improving maternal and child health.
- To promote education.
- Construction of toilets in schools.
- Ensuring environmental sustainability.
- Promote sports activities.
- Measures for the benefit of the armed forces.
- Protection of National Heritage.
- Development of slum area.
- To contribute to the Prime Minister’s national relief.
Apart from these, there are many other ways in which efforts are made to help people by spending and reducing environmental pollution.
If seen, companies have an advantage in spending under Corporate Social Responsibility. The more the company spends on CSR, the better its image becomes in the eyes of the people.
It sells the products of that company more, likes the public more. It is like having laddoos in both hands. That is, the price of mango kernels.