Ever since the 2% Corporate Social Responsibility (CSR) mandate arrived in 2014, Andhra Pradesh has emerged as one of the leading states in the country for its investment rates.
Andhra Pradesh (AP) has plans to be amongst the top-3 most developed states of the country by 2022, the year India will celebrate its platinum year of Independence. In terms of productivity, the state has been really pushing itself to be considered as a leader in several regards. The Foreign Direct Investment (FDI) figured skyrocketed, as the state received 16,252 crores in investments for 2016 – 10,040 crores hike from the year 2015 (6,212 crores). Andhra Pradesh’s Gross State Domestic Product (GSDP) was US $92.2 billion in 2015-16.
The state is talking about development and growth in a way where our future is at the base of each state policy. The current focus has been towards solar and wind energy projects. In an interview with Livemint, the Chief Minister Mr. Chandrababu Naidu mentioned, “The state had invited some of the best players in the business to explore local storage of solar power.” In Indian Brand Equity Foundation’s 2017 report, the state of AP is planning for a reform of the existing Wind Power Policy in order to attract new investments and achieve 4,000 MW capacity addition through wind power projects in the state.
In 2015, the government urged corporate houses operating in the state to step up their CSR activities and align them with what the government is promoting. “There is a need for greater involvement of major and medium industries in the process of creating basic infrastructure, especially in rural areas,” said M. Janaki, District Collector. Recent interest from companies such as Google has boosted the state’s CSR scope, as the tech giant aims to empower rural areas through its Internet Sathi initiative.
The key to all these actions plans is that corporate whether public or private have made telling contributions through their CSR related activities. Several corporates over the past three years have put in funds to provide support to the state’s long-terms aims while helping each element of the state grow together.AP has brought in a great deal of money and support to not only create job opportunities but has also developed a model for sustainable growth.
The state government’s most recent Youth Policy is also seeking for CSR funding, as AP looks to revive its youth’s contribution through several programmes. The new Youth Policy is said to cost the state Rs. 450 crores. While cleanliness drives and education projects are increasingly gathering interest from corporate houses, other areas also need attention.
As announced on Saturday, 19 August, with the upcoming Andhra Pradesh Corporate Social Responsibility Society (APCSRSC), the state will aim to bridge the space between government and corporate foundations. As per an article by Deccan Chronicle, “The APCSRS will help to receive and manage CSR funds while coordinating, monitoring and implementing ongoing projects connected with it. The society will also act as a bridge between university research projects and related industry for direct funding.”
Andhra Pradesh has launched 7 Missions, 5 Campaigns & 5 Grids to boost development of various areas of focus and more importantly safeguarding the welfare of its people. As the core idea behind the new vision proposed by the Chief Minister Chandrababu Naidu is to “provide the basic social & economic infrastructure”. The objective for 2029 remains clear, too: eliminate poverty, reduce economic & social inequalities, leading to the formation of a healthy & happy society. AP not only proposes to be a real source for doing sustainable business but provides to be the perfect bedrock for exploring and implementing CSR.