Corporate social responsibility helps in making substantial contribution to the overall growth of humanity. With CSR, companies in India that fall in certain criteria and have to make a contribution towards the betterment and welfare of the society and the country. 

Now,

What is CSR?

Corporate Social Responsibility is a transformational initiative or activity practised by Indian corporations. Mandated by the government, it is a positive step towards collective upliftment and well-being of the community. The CSR activities in India need to be in alignment with the socio-economic development of the society in some way or the other. 

What was the companies act in April 2013?

The Companies Act 2013 has formulated Section 135 and is landmark legislation that makes Indian companies answerable to the government about their CSR expenditure. India is the first country to make the incorporation of Corporate Social Responsibility activities mandatory for qualifying companies. It is, for sure, a remarkable step towards growth, overall development and humanity.

Be it a private sector company or a public sector company, Corporate Social Responsibility CSR has to be adhered to by all listed companies. If a company falls in either of the following criteria for compulsion, they need to form a CSR committee. Companies:

• That has a net worth of Rs. 500 crores or more, or
• That have an annual turnover of Rs. 1000 crores or more, or  
• That generate a profit of Rs. 5 crores or more.

During any financial year, if any of the above financial strength criteria are met then the rules of Section 135 apply. Prior to the compulsion of the Corporate Social Responsibility clause, CSR activities in India were voluntary for the listed companies. However, it was mandatory for them to disclose their CSR spending to their shareholders. Under the Companies Act, the preference has to be given to local areas in which the company operates.

The goals of the CSR?

1. Promoting education 
2. Eradicating hunger
3. Promoting Gender Equality 
4. Protection of Heritage and culture
5. Protection of environment 
6. etc.

List of companies already following this in India:

ITC 

ITC has been doing impactful CSR activities in India for years now. ITC has educated about 2,52,329 children through its 2,334 Supplementary Learning Centres. They have also supported empowered about 15378 women members through 1183 self – help groups.

Tata Power

Tata Power has made it its topmost priority to empower women through its Self Help Groups in Kutch Region of Gujarat. This initiative provides financial aid and loans for housing, purchasing cattle, capital for business, education, marriage and medical purposes.

Infosys

Infosys is one of the early adopters of Corporate Social Responsibility. They have takes up projects like the restoration of water bodies in Karnataka and metro station construction in partnership with Bangalore Metro Rail Corporation Limited. Also, they are making a contribution in Sports through their GoSports Foundation. Their CSR initiative also includes a relief fund for Tamil Nadu, Karnataka and Kerala.

Reliance

Reliance has taken up the initiative of securing the life of villagers of Balangir district. They have a life insurance programme for them. The “Education for All” initiative was launched to provide access to quality education in India to everybody. They work to protect the right to education of underprivileged children, girl-child and differently-abled. They also contribute to disaster relief funds.

Tata Steel

Tata Steel, for the last 100 years, has been committed to the social development and upliftment of Jharkhand. The agenda of their CSR committee is to improve the quality of life of the communities it operates in. They also launched a train called “Lifeline Express” in 1991, a running hospital, that serves the needy regions of India. They have done numerous done AIDS awareness programmes.

AMUL

Over the years, Amul has contributed to rural health and development through Tribhuvandas Foundation. They have also established Swarnjayanti Gram Swarozgar Yojana, a holistic self-employment programme in Kheda district. They also successfully run tree plantation drives, blood donation camps and rural sanitation programmes. They also provide scholarships through their Amul Scholar schemes.

Cafe Coffee Day

The beloved coffee shop, Cafe Coffee Day, employs 50 speech and hearing impaired people at their various outlets as staff. They do this as a part of their CSR activity as a move towards equal employment. They called them the ‘Silent Brew-masters’. CCD also has tie-ups with NGO Enable India to empower differently-abled people. Their biggest CSR initiative is the SVGH Vocational Training College in Chikmagalur, Karnataka.

P&G

“Shiksha – Padhega India, Badhega India” is a crucial part of Procter & Gamble’s CSR. THE Shiksha initiative has, till date, helped about 280,000 underprivileged children to get access to their right to education. They have also built & supported over 140 schools across India. 

Wipro

Wipro makes its contribution to education and upliftment through Wipro Care. Not just education, Wipro addresses disaster relief and rehabilitation and health and wellness programmes for the needy as well through Wipro Care. They have also launched Wipro Eye that promotes ecological sustainability in its operations.

DLF

DLF is India’s largest real estate company. Initiated in the interest of educating children of construction workers, Swapana Sarthak Informal School was established. They have also set up employable vocational training centres under the banner of DLF LIFE. They’ve also set up DLF Inspire to improve the quality of life of underprivileged children.