Home Editor's Pick Why India Needs CSR

Why India Needs CSR

CSR In India

India is a fastest growing economy. However, it has several poverty issues too which act as chronic diseases against development and progress. Hunger, malnutrition, unemployment, unemployability, illiteracy, casteism, etc. are only some of them.

The government is working tirelessly towards these causes. However, poor accountability, corruption and favouritism act has hindrances. Lack of inadequate methods of nurturing talent are causing the country to lose many young and talented people to foreign countries.

Many of these problems are location and site specific. They can be taken care of by specific customised solutions and some NGOs are doing very good work in this department. However, these NGOs rely on external funding which is often difficult to obtain and sustain for their long term operations. Their focus shifts from the cause since they also have to keep looking for investors.

In order to tackle these issues realistically, the country needs business like approach towards its problems. This kind of approach can be exhibited by the corporate bodies who are known for their efficiency and logical decisions.

Corporates often work and gain profit in the midst of resource rich rural areas leading to an imbalance and creating a feeling of hatred for it among the local population. The existence of big conglomerates in the area causes influx of population causing the benefits to move to the outsiders which creates a feeling of animosity not only for the company but also the people who work for the company. In order to safeguard the organisation from this imbalance which could often lead to violence, the corporates can initiate CSR projects in the area to ensure that the society as well as its functioning are moving towards a positive growth. Apart from this, the CSR mandate is there in place, which ties the organisations to dedicate a budget for CSR.

Corporates act with proper physical, legal and financial planning towards any project. They have accountability as they want to ensure that the money they spend is being used as planned. They can use these skills along with the superior knowledge of familiarity of the situations in the village they are operating gained by the extensive research, to turn the tables in the favour of the society. This will not only build a goodwill for the organisation but will also boost national development.

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The CSR Journal Team