Indian Government to encourage voluntary approach on CSR initiatives of private sector
The government will encourage a voluntary approach and act as a facilitator for companies to adopt social, environmental and economic responsibilities, minister for corporate affairs Veerappa Moily said at an assocham summit on 26th Sept 2011.
The trajectory of overall growth and development takes a positive turn when businesses are supported by appropriate policy regime that encourages systematic movement towards responsible thinking, decision making and progressive movement towards sustainability, Such a responsible approach on part of business duly supported by government alone will secure our future and ensure that whole benefits accrue to people and our planet, as businesses continue to make surpluses that can be re-invested for economic growth, Mr Moily added.
Mr Moily also called for putting together a new national policy on corporate social responsibility with participation from industry leaders and government representatives. He said the government is not in favour of imposing its views as the corporate sector realises the importance of CSR initiatives aimed at “bottom of the pyramid.”
India ranks as fourth with 24 companies responding to guidelines of the Global Reporting Initiative (GRI). Given the increasing presence of Indian companies worldwide and the expectation that India will become one of the largest global economies within the next half century, the performance and behaviour of companies is under greater scrutiny than ever before.
Banknet Group assists in CSR initiatives of companies. Our CSR activities revolve around the enlightenment of self interest with the employees, social investments, transparency and trust within the company and on the public front, and increase the public expectations of business globally. We ensure the marketability of the CSR from the organizational front.
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