Identifying appropriate social projects and their beneficiaries is a key challenge while implementing corporate social responsibility (CSR) programmes, Kaushal Sampat, president and managing director - India, Dun & Bradstreet (D&B) said here Saturday.
"As per a survey conducted by D&B on CSR initiatives practiced by PSUs (public sector undertaking), around 28 percent of companies feel that identifying appropriate social projects and their beneficiaries is a key challenge while implementing CSR programs. Hence, CSR should be made an integral part of core strategic thinking and corporate value creation rather than just a atick the box' activity," he said.
He was speaking at the CSR and Sustainability Conclave organised by D&B.
The new Companies Act mandates that companies have to shell out 2 percent of its profit for CSR programmes.
As N.K. Maini, deputy managing director, Small Industries Development Bank of India said the challenge lies in enhancing profitability, increasing shareholder value and creating wealth, while aggressively pursuing opportunities of growth.
"Coming to the social dimension, the challenge is in achieving high rates of economic growth in order to enable all sectors of society to enhance their quality of life, and live with dignity. On the environmental front, the challenge lies in continual economic growth while preserving and enhancing our natural resources and eventually leaving a better planet for our future generations," he added.
However, Rajiv Chugh, partner - tax and regulatory services, Ernst and Young LLP said, tax and CSR go hand-in-hand in the present scenario and both are necessary for sustainable development.
"With corporates now being also mandated to contribute to society by undertaking CSR initiatives, it would be prudent for the government to create a meeting point between tax and CSR by relooking at given tax deduction for CSR expenditure, so that 2 percent of net profit is not seen as the upper ceiling for CSR by corporate India," Chugh said.
Deepak Jolly, vice president - public affairs and communications, Coca-Cola India and SWA said CSR cannot just be an add-on in the journey of any corporate house, it should be embedded right from the top.
Source: http://www.business-standard.com/article/news-ians/identifying-proper-social-projects-a-challenge-for-csr-activities-114112900503_1.html
"As per a survey conducted by D&B on CSR initiatives practiced by PSUs (public sector undertaking), around 28 percent of companies feel that identifying appropriate social projects and their beneficiaries is a key challenge while implementing CSR programs. Hence, CSR should be made an integral part of core strategic thinking and corporate value creation rather than just a atick the box' activity," he said.
He was speaking at the CSR and Sustainability Conclave organised by D&B.
The new Companies Act mandates that companies have to shell out 2 percent of its profit for CSR programmes.
As N.K. Maini, deputy managing director, Small Industries Development Bank of India said the challenge lies in enhancing profitability, increasing shareholder value and creating wealth, while aggressively pursuing opportunities of growth.
"Coming to the social dimension, the challenge is in achieving high rates of economic growth in order to enable all sectors of society to enhance their quality of life, and live with dignity. On the environmental front, the challenge lies in continual economic growth while preserving and enhancing our natural resources and eventually leaving a better planet for our future generations," he added.
However, Rajiv Chugh, partner - tax and regulatory services, Ernst and Young LLP said, tax and CSR go hand-in-hand in the present scenario and both are necessary for sustainable development.
"With corporates now being also mandated to contribute to society by undertaking CSR initiatives, it would be prudent for the government to create a meeting point between tax and CSR by relooking at given tax deduction for CSR expenditure, so that 2 percent of net profit is not seen as the upper ceiling for CSR by corporate India," Chugh said.
Deepak Jolly, vice president - public affairs and communications, Coca-Cola India and SWA said CSR cannot just be an add-on in the journey of any corporate house, it should be embedded right from the top.
Source: http://www.business-standard.com/article/news-ians/identifying-proper-social-projects-a-challenge-for-csr-activities-114112900503_1.html
