Corporates in India would now have to give an average of 2 percent of their profits to projects related to corporate social responsibility. Corporate Social Responsibility refers to holistic action taken by companies to improve positive social or environmental impact on the society.
The companies on whom the provisions of the CSR shall be applicable are contained in Sub Section 1 of Section 135 of the Companies Act, 2013. As per the said section, the companies having Net worth of INR 500 crore or more; or Turnover of INR 1000 crore or more; or Net Profit of INR 5 crore or more during any financial year shall be required to constitute a Corporate Social Responsibility Committee of the Board “hereinafter CSR Committee” with effect from 1st April, 2014. The pictorial representation below gives the representation of Section 135 (1).
This a huge positive development and would attract $2.9B (INR 20,000 crore) in investments for the social sector, a game changer looking at the improvised state of affairs in India for less privileged people. The danger would always be there that many companies would run shell companies which act as fronts for CSR activities while siphoning the money back to their businesses. But, the act greatly promotes accountability and transparency within the corporate giving system.
To be continued…
Will write a bit about Bolivia and the policies implemented by Dr Sachs as covered in his riveting book The End of Poverty. The End of Poverty is a very detailed book and includes policy initiatives and impediments in removing poverty in many different countries. Bolivia suffered from hyperinflation and the remedy prescribed by Jeffery Sachs helped in stabilizing inflation and promoting growth. The article will ignore the factual pricing of oil in pesos or exchange rate between USD and Peso but rather conceptualize the thoughtful and analytical policy response to stabilize the economy. This will also in a way include book review.
Last few months have been very tragic for the world and especially for the United States. Global trade war esp. focused on China, Iran sanctions and multitude of disrespectful tweets have become the norm now out of Washington. I have studied in China and the US, so have a very close experience with people from both these countries. Some of the best people I have met in life are Chinese and Americans. Graceful, advanced, measured and wholesome.
Anyways, I always tried to write a bit about Trickle-down economics. If you want to know a bit about American political and economic ideology which divides Republicans and Democrats, then the best place to start would be the 1980s era which implemented the so-called Trickledown economics. The policy reduced taxes on the rich apart from disrupting social welfare programs hoping that it would stimulate entrepreneurship within the society leading to more jobs for the less privileged people in the society.
This is the greatest fallacy thrown to the world. The concentration of the wealth among the rich increased after the 1980s especially among the top 1% of the population. Moreover, Gini Coefficient, an inequality measure increased over the years. The higher the gini coefficient, the more the economic inequality among the population. Continue reading
Hello, I plan to re-post some of the articles I wrote here. I have written many articles, and it makes sense to share it again.
A good way to look for a job is through networking. It can be both professional or social. Eventbrite is a good source to look at upcoming events in your locality. Customize a visiting card highlighting your skill sets, academic qualifications, and contact details. Continue reading
The Innovative Finance Revolution is one of the best reports on innovation in social finance. Social finance was evolved over the years and with philanthropy and corporate social responsibility evolving through evidence-based social impact, attracting private capital has been imperative for sustainable work in the social sector. I read this report while I was in Seattle and found it to be one of the most comprehensive reports on different projects and modes of financing used by various foundations, multilateral organizations and nonprofits in implementing sustainable social projects in emerging and poor economies or sustainable infrastructure projects in Americas. From social impact bonds, green bonds to vaccine immunization bonds, report chronicles articles by leading experts and practitioners in developmental finance. UN estimates $50 to $70 tr of capital to implement Sustainable Development Goals over the next 25 years, a huge task which can only be achieved by attracting private capital. Rockefeller Foundation is the world’s leading foundation and a bellwether in innovating impact capital in philanthropy. To achieve UN Sustainable Development Goals, a gap of approx. $2.5 tr annual funding gap is required from the $200 tr pool of private capital. Continue reading
I have known Gayatri for sometime and when I came to know about her new book, titled Winning Strategies For Parents,
I knew I had to read it although I am a bachelor. To begin with, Winning Strategies For Parents , is a very detailed, insightful, comprehensive and hands on work on parenting your children until preschool.
Gayatri is brilliant in her research and her book, serves as a primer for parents in guiding them through the nuances of child’s development. I learnt different preschool philosophies governing children and the role they play in transforming children over the years. Born and bred on Montessori pedagogy as a preschooler, the book gives an excellent overview of other philosophies esp. importance of music and art in Waldorf teachings while the emphasis on parental involvement in Reggio Emilia. Its heartening to know that many preschool philosophies encourage creativity and collaboration right from the preschool stage which leads to a more holistic development of an individual as compared to philosophies which encourage undue peer competition. The book is serious read and best be read over a period of few days to in-digest the plethora of qualitative information on child’s development.
Gayatri, artistically articulates journey of child’s development with key milestones, obstacles and proposes profound strategies to overcome bottlenecks for a win win relationship between children, parents and education system.”