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April 26, 2025
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Budget 2024: Companies To Use CSR For 10% Of Internship Costs

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Budget 2024: Companies To Use CSR For 10% Of Internship Costs
Companies will now be required to use their CSR funds to cover 10 per cent of internship costs, as announced by Union Finance Minister Nirmala Sitharaman in her budget speech on July 23, 2024.
The initiative is aimed at creating opportunities for one crore youth in the top 500 companies over the next five years. As part of the scheme, interns will receive a monthly allowance of Rs 5,000 and a one-time assistance of Rs 6,000.
CSR in India is mandatory governed by Section 135 of the Companies Act, 2013, along with Schedule VII of the Act and the Companies (CSR Policy) Rules, 2014. These regulations define the criteria for CSR eligibility and set out requirements for implementing and reporting CSR activities.
According to the Section 135(1) of the Companies Act, 2013, and the Companies (CSR Policy) Rules, 2014, a company must comply with CSR provisions , if it meets any of the following criteria in the immediately preceding financial year:
– Net worth of Rs 500 crore or more,
– Turnover of Rs 1,000 crore or more, or
– Net profit of Rs 5 crore or more
Companies required to comply with CSR provisions must spend 2% of their average net profits from the previous three years on CSR activities, as stipulated by the CSR policy.

Importance of Internships

Internships are crucial for bridging the gap between academic knowledge and real-world applications. There are several companies that expect the candidates that apply for jobs to have some practical work experience. This expectation stands true even for freshers. While the freshers may not have experience of working on a professional level, they are required to understand the roles and responsibilities of the job thoroughly, which is impossible without having worked. Internships provide a platform to these individuals in gaining this experience.
It has been observed that freshers with internship experiences make more desirable candidates for jobs.
One of the biggest strength of India is its demographic dividend. India exports millions of people across the world to be part of global workforce. Such individuals, even with good education find it difficult to secure a job in other countries over a lack of work experience, and have to settle for low paying jobs. This often change or slow their career trajectory. This initiative will help in addressing this issue by improving the employability prospects of Indian youth, not just in India, but also across the globe.

CSR Initiative to illuminate 100+ forest villages in Uttar Pradesh fostering safety and rural development

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The CSR Journal
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CSR Initiative to illuminate 100+ forest villages in Uttar Pradesh fostering safety and rural development
Further to the #BrighterLivesBetterWorld vision Signify, the world leader in lighting, exchanged a Memorandum of Understanding (MoU) with BharatCares, in the presence of the Principal Chief Conservator of Forest/Chief Wildlife Warden, Department of Environment, Forest & Climate Change, Government of Uttar Pradesh, to illuminate 100+ rural and forest villages in Uttar Pradesh with energy-efficient LED streetlights.
The project is aimed at enhancing the quality of life in these villages, reducing human-wildlife conflict, increasing rural development, extending time for livelihood activities, and improving safety for women and children. The role of the Environment, Forest and Climate Change Department, Government of Uttar Pradesh will be instrumental in this initiative for identifying the villages, providing the necessary support on the ground and overall collaboration to drive this initiative across these forest villages for a better tomorrow.
“We are extremely proud to launch this initiative with Uttar Pradesh’s Environment, Forest and Climate Change Department and BharatCares, focused on addressing the concerns beyond illumination by lighting up the forest fringe villages in Uttar Pradesh. By empowering these communities with the power of light, we aim to bring safety and create a lasting impact on the villages. This project is yet another great example of our relentless efforts towards a better tomorrow for everyone,” said Nikhil Gupta, Head of CSR, Government Affairs, Marketing & Strategy at Signify.
Bhomik Shah, Managing Trustee, BharatCares added, “Access to reliable lighting is fundamental to socio-economic progress, especially in underserved regions. Our collaboration with Signify under the ‘Har Gaon Roshan’ initiative reflects our shared commitment to driving positive change through sustainable solutions.“
MoU exchanged in the presence of Sh. Sanjay Srivastava, Principal Chief Conservator of Forest/Chief Wildlife Warden, Department of Environment, Forest & Climate Change, Government of Uttar Pradesh, Mr Rakesh Kumar Singh, CSR Lead, Signify and Mr. Manoviraj Singh, Vice President, CSR & Government Practice, CSRBOX.
By bringing the transformative power of light to these 100+ villages, this initiative is dedicated to improving the lives of thousands of people and contributing to a brighter and more sustainable future for rural Uttar Pradesh.
Disclaimer: This media release is auto-generated. The CSR Journal is not responsible for the content.

CSR Project inaugurate innovative government school facility in Lakshmipura, Bengaluru

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Select CSR Project inaugurate innovative government school facility in Lakshmipura, Bengaluru CSR Project inaugurate innovative government school facility in Lakshmipura, Bengaluru
NTT DATA, a global digital business and IT services leader, in collaboration with The Akshaya Patra Foundation, announced the inauguration of a newly built government school in Lakshmipura, Bangalore. This project exemplifies their shared commitment to creating significant long-term social impact through enhanced learning environments and comprehensive nutrition programs for students.
The inauguration ceremony was graced by Chief Guest Shri S. Muniraju, Member of the Karnataka Legislative Assembly, Dasarahalli Assembly Constituency & President BJP Bengaluru Urban District; Guest of Honor Shri Vijay Bharadwaj, former Indian cricketer; alongside Aditya Afzulpurkar, Senior Vice President – Technology Infrastructure Services and Shri Shridhar Venkat, CEO of The Akshaya Patra Foundation, who was joined by other CXOs of the foundation. Speaking at the inauguration, Mr. Dilip Kumar, Chief Digital Officer of NTT DATA, Inc., said, “Education is the key that unlocks doors of opportunity. This landmark NTT DATA school project with Akshaya Patra Foundation represents hope, possibility and the chance for every child to rise above their circumstances and reach their dreams. With this school initiative, we renew our commitment to nurturing and empowering potential within the youth in our communities.”
Shri Shridhar Venkat, CEO of The Akshaya Patra Foundation, stated, that “This initiative is a significant step towards realizing our vision of creating long-term social impact by enriching the learning environments of government school students, we are grateful for the support from NTT DATA and look forward to continuing our efforts in transforming educational landscapes.”
The project aligns with NTT DATA’s sustainability ambition to provide digital access and educational opportunities to 5 million young people and children from underprivileged areas worldwide by 2030. With the inauguration of this new school campus, NTT DATA has reaffirmed its commitment to transforming traditional educational infrastructures. Currently, the school serves 241 students, with a gender distribution of 131 boys and 110 girls, providing them with a nurturing environment to thrive academically and personally.
The newly constructed school has a host of innovative features that set it apart from conventional government school facilities, promoting not only academic excellence but also holistic student well-being. 
Highlights of the new facility:
– Innovative design: The school features a circular structure that maximizes energy efficiency and sustainability. The total built-up area stands at 902 square meters.
– Enhanced learning tools: Students have access to a computer lab and a well-stocked library, equipped with modern educational technologies.
– Health and nutrition: A kitchen garden on the premises allows students to participate in growing organic produce, encouraging healthy eating and sustainable living practices.
– Physical and security measures: The school is equipped with CCTV systems, modern toilet facilities, and extensive outdoor sports areas, ensuring a safe and conducive learning environment.
– Water conservation: The inclusion of a rainwater harvesting system underlines the commitment to sustainability.
This initiative is another milestone in our journey towards creating educational spaces that foster learning, well-being, and growth among students in government schools. This innovative facility will set the benchmark for future projects. We are grateful for the continuous support from our partners and the community.
Disclaimer: This media release is auto-generated. The CSR Journal is not responsible for the content.

Budget 2024: Tax structure under new regime revised

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Budget 2024: Tax structure under new regime revised
Finance Minister Nirmala Sitharaman tabled the Union Budget 2024 for the seventh time today. In her budget speech Shri Nirmala Sitharaman revamped income tax slabs under the new regime in Union Budget 2024 in a bid to make it more attractive. The standard deduction limit was also hiked from Rs 50,000 to Rs 75,000, marking an increase of Rs 25,000.
Read: Union Budget 2024: Govt focuses on employment, skilling schemes for youth
The Finance Minister said that the tweaked tax slabs would save salaried individuals Rs 17,500 annually under the new regime. Additionally, the Finance Minister adjusted some of the tax slabs.
The updated tax slabs are as follows: income up to Rs 3 lakh will be taxed at 0%, Rs 3 lakh to Rs 7 lakh at 5%, Rs 7 lakh to Rs 10 lakh at 10%, Rs 10 lakh to Rs 12 lakh at 15%, Rs 12 lakh to Rs 15 lakh at 20%, and income above Rs 15 lakh at 30%.
Earlier, under the new income tax regime, there was no tax up to Rs 3 lakh income, Rs 6 lakh to Rs 9 lakh was taxed at 10%, Rs 9 lakh to Rs 12 lakh was taxed at 15%, 12 lakh to Rs 15 lakh at 20% and Rs 15 lakh and above at 30%.
Read: इसे पढ़ लिया तो समझ में आ जायेगा बजट
Specifically, the changes have been made in three slab categories – Over Rs 3 lakh to Rs 6 lakh at 5% has become Rs 3 lakh to Rs 7 lakh, Rs 6 lakh to Rs 9 lakh at 10 % has now become Rs 7 lakh to Rs 10 lakh and over Rs 9 lakh to Rs 12 lakh at 15% has become Rs 10 lakh to Rs 12 lakh.
These changes are likely to provide a big boost to middle class taxpayers.
The government has also increased the deduction limit for employers’ contributions to the National Pension System (NPS) from 10% to 14%.
Moreover, the deduction for family pensions is proposed to increase from Rs 15,000 to Rs 25,000, benefiting around 4 crore salaried individuals and pensioners.

इसे पढ़ लिया तो समझ में आ जायेगा बजट

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Rahuldeo Sharma
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Select इसे पढ़ लिया तो समझ में आ जायेगा बजट इसे पढ़ लिया तो समझ में आ जायेगा बजट

CSR: BPCL Launches Drone Reforestation Project to Revitalize Nashik’s Lands

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Select CSR: BPCL Launches Drone Reforestation Project to Revitalize Nashik's Lands CSR: BPCL Launches Drone Reforestation Project to Revitalize Nashik's Lands
Nashik, India: Bharat Petroleum Corporation Limited (BPCL), a leading Maharatna PSU, proudly announces a transformative reforestation initiative in the Nashik District of Maharashtra. This project, conducted in collaboration with the Forest Department – Nashik, aims to restore degraded lands using advanced drone technology and seedball deployment.
BPCL’s reforestation project will utilize 200,000 seedballs distributed by drones, targeting remote and inaccessible areas. This innovative approach addresses the critical issues of rapid deforestation and land degradation, which have significantly impacted the region’s biodiversity, climate resilience, and community well-being.
“At BPCL, we believe in the power of innovation and community. Our drone-based reforestation project in Nashik is a transformative step towards restoring nature and empowering local communities. By leveraging advanced technology and involving local residents, we aim to create a sustainable environment that benefits both the ecosystem and the people. Together, we can build a greener and healthier future.” said Shri Biju Gopinath, Executive Director Pipelines, BPCL.
The project encompasses comprehensive planning, including site selection using GIS mapping, community engagement, seedball production, and drone deployment. The target areas cover 100 hectares across three forest ranges in Nashik District: Sinnar Nashik Range, Hivre Billage, and Ganga Mahalungi Village.
The main objectives are to restore the environment by planting 200,000 seedballs to rejuvenate deforested land, enhance local biodiversity, and promote ecosystem health. Tree species to be planted include Millettia Pinnata (Karanja), Azadirachta indica (Neem), Tectona grandis (Sagwan), Dalbergia Sissoo (Indian Rosewood), Acacia Catechu (Khair), Syzygium Cumini (Black Plum), and Mangifera Indica (Mango). Additionally, the project aims to involve local communities in seedball production and land management, fostering environmental awareness, and creating economic opportunities. It will also utilize seedcopter drones for efficient seedball deployment and employ advanced monitoring systems to track reforestation progress.
This initiative not only aims to restore the environment but also to empower local communities by providing training and employment opportunities in sustainable practices. By integrating scientific research, technological innovation, and community participation, BPCL aims to create a scalable and replicable reforestation model that can be implemented in other regions facing similar challenges. This pioneering reforestation initiative marks a significant step towards creating a greener and more sustainable environment in Nashik, enhancing both the ecosystem and the livelihoods of its residents.
BPCL through their CSR initiatives, have consistently contributed to various social causes, including education, environmental sustainability, health and sanitation, skill development, and community development. This reforestation project aligns with their core CSR focus on environmental sustainability, demonstrating the company’s dedication to creating a positive and lasting impact on society.

 

 

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CSR to Empower Differently-Abled Individuals through Limbs Donation Camp

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Select CSR to Empower Differently-Abled Individuals through Limbs Donation Camp CSR to Empower Differently-Abled Individuals through Limbs Donation Camp
New Delhi, India: Eastman Group of Companies, India’s one of the leading conglomerates has donated INR 17.5 lacs for limb donation to Narayan Seva Sansthan of Udaipur, Rajasthan (NSS) to support initiatives aimed at empowering differently-abled individuals across Ludhiana. This collaboration underscores Eastman Group’s steadfast dedication to enhancing societal well-being willing beneficiaries and encouraging inclusive growth of the society. The partnership with NSS emerged as it has stood out for its decades-long commitment to providing free prosthetic limbs and vocational training to differently-abled individuals.
The collaboration has already bolstered NSS’s efforts in Ludhiana, where a limb donation camp has benefitted 700-800 individuals, including families of beneficiaries. The limb donation initiative aims to have a significant impact on the lives of the beneficiaries. Eastman Group’s involvement extends beyond financial support, as they actively promoted NSS’s initiatives within the industry and provided strategic inputs to maximize impact by providing employment opportunities to differently-abled individuals in the near future.
Eastman Group will also offer job opportunities to individuals who have received limbs during the camp, as part of the government schemes National Apprenticeship Training Scheme (NATS) and National Apprenticeship Promotion Scheme (NAPS). This initiative by the Group will enable them to earn while learning in a workplace, providing a head start in their chosen careers. The Group aims to prepare them for industry demands and the evolving needs of the company, ensuring they become industry-ready. This support will enhance their prospects of sustaining themselves in their respective fields and achieving self-dependence.
Mr. Jagdish Rai Singal, Founder and Chairman, Eastman Group, emphasized the company’s profound sense of social responsibility, stating, “At Eastman Group, we take our Corporate Social Responsibility utmost seriously and strive to fulfill both our legal obligations and our karmic duty towards uplifting the society as a whole through multiple such initiatives. With this limbs donation camp our objectives are twofold – first is to alleviate the social exclusion faced by the individuals who have lost limbs and second to equip them with skills that enable seamless integration into mainstream society and the workforce to sustain themselves in the future. These campaigns are ongoing, driven by our commitment to sustainably uplift communities of differently-abled individuals. Additionally, we chose to collaborate with NSS because of their sterling reputation and unparalleled expertise in the field of social responsibility. NSS, with its extensive experience and unwavering dedication, played a pivotal role in executing this campaign. The recent limb donation camp in Ludhiana has demonstrated the profound impact on the differently-abled community members.”
Eastman Group’s CSR activities are conducted with rigorous standards of accountability and efficiency, ensuring that funds are utilized effectively under the guidance of dedicated professionals. The company remains committed to expanding its reach and deepening its engagement with beneficiaries to address their long-term challenges systematically. JRS Eastman is aiming for a lasting partnership with NSS for the forthcoming CSR initiatives. This collaboration aims to amplify the social impact on the lives of our differently-abled people, maximizing benefits for the community. Looking ahead, Eastman Group remains committed to expanding its CSR initiatives, not only in healthcare through initiatives like building hospitals in Haryana but also in community welfare projects, exemplified by the work with the Darshana Singal Foundation (DSF).

 

 

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Tree plantation drive hosted in Haryana’s Kundli industrial area under CSR initiative

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The CSR Journal
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Tree plantation drive hosted in Haryana's Kundli industrial area under CSR initiative
Haryana, India: Om Logistics Limited, India’s premier service provider in supply chain and logistics industry, hosted a plantation drive on July 23, 2024, in the Kundli industrial area. This initiative highlights Om Logistics’ commitment to environmental sustainability and aims to enhance the green cover in the industrial area.
Over 2000 plants have been planted under this drive, with the participation of industrialists, business leaders and local community members. This event reflects Om Logistics’ dedication to supporting a greener and healthier environment.
The plantation drive graced with the support of prominent industrialists including Dr. Pawan Kansal- CMD from Jagdamba Cutlery Ltd., Mr. Subhash Gupta- President of Kundli Industrial Association, Mr. Arvind Chaudhary- Chairperson of Kundli Industrial Association, Dr. Pramod Singh- Director of Anand Maya Hospital, Mr. Rajesh Sharma- Senior Manager at Om Logistics Limited. Their participation highlights the collaborative effort to enhance the green cover in the Kundli industrial area and reflects a shared commitment to environmental sustainability.
Mr. Raghav Singhal, Executive Director of Om Logistics Limited, expressed his enthusiasm for the initiative, stating, “At Om Logistics, our commitment to environmental sustainability goes beyond words; it is embedded in our operations and strategic goals.To minimize our ecological footprint, we have adopted various eco-friendly practices, such as the use of Electric Vehicles (EVs) and compressed natural gas (CNG) vehicles aimed to curb carbon emissions. Along with this, some other multiple approaches have been initiated, including the installation of solar panels in our warehouses, maximizing the usage of natural light during the day, minimizing waste and using recycled materials. Our tree-plantation initiatives further support our mission of ecological balance and sustainable growth. We believe that sustainability is a continuous journey, requiring dedication, innovation and collaboration. Understanding the profound impact of afforestation on biodiversity and climate resilience, we are keen to expand our tree-plantation endeavours even further.”
As a responsible supply chain and logistics management company, Om Logistics Ltd. has implemented several initiatives to promote a greener environment with the belief that safeguarding the environment is both a moral imperative and a responsibility. The company has actively engaged in numerous tree-planting drives over the years and plans to expand these efforts to further enhance sustainability.

 

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Union Budget 2024: Govt focuses on employment, skilling schemes for youth

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Select Union Budget 2024: Govt focuses on employment, skilling schemes for youth Union Budget 2024: Govt focuses on employment, skilling schemes for youth
Prime Minister Narendra Modi’s first budget in his third term meant for the financial year 2024-25 puts employment and skill development for youths on priority, as announced by Finance Minister Nirmala Sitharaman on Tuesday. While announcing the budget, the Finance Minister announced a Rs 2 lakh crore package for schemes which are aimed at creating jobs and skilling 4.1 crore Indian youth.
“Turning attention to the full year and beyond, in this budget, we particularly focus on employment, skilling MSMEs and the middle class. I am happy to announce the Prime Minister’s package of five schemes and initiatives to facilitate employment, skilling and other opportunities for 4.1 crore youth over a five-year period with a central outlet of Rs 2 lakh crore,” the Finance Minister said during her budget speech.

Union Budget 2024: Benefits for Students

E-vouchers for loans up to rupees 10 lakh for higher education in domestic institutions to be given directly to one lakh students every year for annual interest subvention of 3% of loan amount.
The model skill loan scheme will be revised to facilitate loans up to rupees 7.5 lakh with a guarantee from a government promoted fund expected to help 25,000 students every year.

 

Prime Minister’s Package: Focus on Employment and Skilling

Employment

Three schemes have been announced for ‘Employment Linked Incentive’

Scheme A: First Timers

Direct benefit transfer of one month salary in three installments up to rupees 15,000 to first-time employees registered in Employees Provident Fund Organisation (EPFO). The eligibility limit will be a salary of Rs 1 Lakh/ per month. The scheme is expected to benefit 210 Lakh youth.

Scheme B: Job Creation in Manufacturing

Incentive to be provided directly to both employee and employers as per their EPFO contribution in the first four years of employment.

Scheme C: Support to Employers

Reimbursement to employers up to Rs 3000 per month for two years towards their EPFO contribution for each additional employee.

Skilling

The Prime Minister’s Package aims to boost skilling in collaboration with state governments & industry with a new centrally sponsored scheme. Under this 1000 ITIs to be upgraded in hub and spoke arrangements in 5 years. Also, the government plans to focus on outcome and quality in collaboration with states and industries
With a focus on internship in top companies, 1 crore youth to be skilled by India’s top companies in 5 years. The 12-month Prime Minister’s internship will grant a monthly allowance of Rs 5000.
As part of the fourth scheme under the Prime Minister’s package for skilling and collaboration with state governments and Industry:
–20 lakh youth will be skilled over a 5-year period
–1000 ITIs will be upgraded in Hub and Spoke arrangements with outcome orientation
–The Model Skill Loan scheme will be revised to facilitate loans up to Rs 7.5 lakh with a guarantee from government promoted fund.
–For helping our youth who have not been eligible for any benefit under govt schemes, a financial support will be given for loans up to Rs 10 lakh in higher education in domestic institutions.
Women India

Union Budget 2024: Benefits for Women

With a focus on Inclusive Human Resource Development & Social Justice, Rs 3 lakh crore has been announced for schemes benefitting women and girls
Working women’s hostels and creches will be set up in collaboration with industries.

Union Budget 2024: Other Key Highlights

Apart from the above, notable highlights of the budget include
— Announcement of 3 crore additional houses in rural & urban areas under Pradhan Mantri Awas Yojana.
— Under the PM Awas Yojana Urban 2.0, housing needs of 1 crore urban poor & middle-class families will be addressed with an investment of Rs 10 lakh crore.
— Union Government to Work With States to Facilitate Development of ‘Cities as Growth Hubs’. 14 large cities with a population above 30 lakh will have Transit Oriented Development Plans.
— The government envisions a scheme to support the development of 100 weekly haats, or street food hubs over the next 5 years in select cities
–PM Janjatiya Unnat Gram Abhiyan to be launched to improve the socio-economic conditions of India’s tribal communities, which is expected to cover 63,000 villages and benefit 5 crore tribal people

— Three cancer treatment medicines will be exempted from basic customs duty.
— Labour Reform: The e-shram portal will be integrated with other portals to provide one-stop labour services solution; will include mechanism to connect job-seekers with potential employers and skill providers.

CSR Spending Grew by 53% from 2014 to 2022: Economic Survey 2024

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Select CSR Spending Grew by 53% from 2014 to 2022: Economic Survey 2024 CSR Spending Grew by 53% from 2014 to 2022: Economic Survey 2024
The commitment of Indian conglomerates to Corporate Social Responsibility (CSR) has seen a 53 per cent increase between financial years 2017-18 and 2021-22, according to the Economic Survey. The substantial and consistent growth in CSR spending sheds light on the hoslitic approach towards social development at the hand of both – government and private sector.
Corporate Social Responsibility has been mandatory for Indian companies as per the Companies Act 2013. The Economic Survey tabled by the government on July 22, 2024 has highlighted that CSR spending was ₹17,096 crore in 2017-18, rose to ₹20,217 crore in 2018-19, and reached ₹26,278 crore in 2021-22.
The survey has revealed that sector-wise, over three-fourths of the total CSR expenditure is concentrated in four key development areas: Education (32.4%), Healthcare & Sanitation (38.4%), Rural Development (6.9%), and Environment, Animal Welfare & Conservation (10.9%). This focus underscores the prioritisation of critical sectors that directly impact the quality of life and sustainability.
With the continued growth of the Indian economy and resultant spike in profits, the pool of mandatory CSR funds is expected to grow even further, fueling sustainable and inclusive development driven by non-profit organisations.

Exceeded Mandatory Obligations

From 2014 to 2022, Indian companies have spent a total of ₹1.53 lakh crore on CSR activities. Remarkably, more than half of this amount has been spent in the last three years alone, demonstrating a growing commitment to CSR compliance by India Inc.
Many companies have not only met their CSR obligations but have also exceeded them. For the past three years, annual CSR spending has consistently exceeded ₹25,000 crore, marking a 1.5-fold increase over eight years. According to the Economic Survey, public sector units, although comprising just 2% of the companies mandated to perform CSR, contribute nearly 17% of the total CSR spending, highlighting the significant role that public enterprises play in driving social welfare initiatives.
The implementation of CSR projects frequently involves partnerships with non-profit organisations, accounting for about half of the CSR funds. This collaborative model enhances the non-profit ecosystem, facilitating a cross-pollination of ideas and practices.
Companies benefit from the community engagement and inclusive perspectives brought by non-profits, while the latter gain from the analytical and process-oriented rigour of their corporate partners.
Despite the overall increase in CSR spending, the distribution of funds remains concentrated around corporate headquarters, leaving underdeveloped regions relatively underserved.
To achieve regionally balanced CSR investments, there is a pressing need to strengthen the organisational growth and capacity building of non-profits operating in these underdeveloped areas.
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