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Mahesh

28/06/23 12:03 PM IST

New CSR guidelines ‘Sagar Samajik Sahayog’

In News
  • The Union Minister of Ports, Shipping & Waterways and Ayush Shri Sarbananda Sonowal launched ‘Sagar Samajik Sahayyog’ - the new guidelines of Corporate Social Responsibility (CSR).
New Guidelines
  • Under the new guidelines, ports in India will allocate a specific percentage of their net annual profit towards CSR activities.
  • Ports with an annual turnover of less than Rs 100 crores will spend 3-5 per cent on CSR,
  • Ports with a turnover between Rs 100 to 500 crores will spend 2-3 per cent
  • Ports with a turnover exceeding Rs 500 crores will spend 0.5-2 per cent.
  • Two per cent of the total CSR expenses will be dedicated to project monitoring by the ports in order to ensure effective implementation and monitoring of the respective CSR projects.
  • Each major port will establish a corporate social responsibility committee, headed by a deputy chairperson, to plan and implement CSR initiatives.
  • The committee will consist of two other members. CSR projects must be implemented into the business plans of major ports, addressing social and environmental concerns related to their operations. A corporate social responsibility plan will also need to be prepared for each financial year.
  • The CSR projects and programmes will focus on activities specified in Section 70 of the Major Port Authorities Act, 2021.
  • The guidelines allocate specific portions of the CSR budget for various purposes. 20 per cent of the funds will be earmarked for the Sainik Kalyan Board at the district level, the National Maritime Heritage Complex, and the National Youth Development Fund.
  • The remaining 78 per cent will be directed towards social and environmental welfare projects benefiting the community.
  • These projects include initiatives in areas such as drinking water, education, vocational training, skill development, renewable energy, healthcare, livelihood promotion, community centers, and hostels.
  • The renewed guidelines for CSR activities allows our ports to initiate, undertake and expedite projects for community welfare through a framework where local communities can also become partners of development & change.
Source- PIB

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