BHUBANESWAR: Finance minister Pradip Amat on Friday asked corporates to adjust their corporate social responsibility (CSR) works in sync with the state government priorities under a state-level CSR-body.
Speaking at an event, Inclusive India Forum 2016, at Xavier Institute of Management Bhubaneswar (XIMB), Amat said "Odisha can gain if corporates working in the state work together on identified priority sectors together with the state government. This has to be done through formation of a state level CSR body that could lay the roadmap for such expenditure," he said.
District level CSR monitoring and evaluation needs to be taken up to see that there is no undue delay, he said.
CSR expenditure, now mandated by the central government can bring in large scale changes in several development parameters that are vital for sustainable development, Amat said.
The CSR regulations have provided much more than a portion of corporate budget for community development. It is an opportunity for companies to harness their captive resources and talent pool for effective stakeholder engagement. It has to be a strategic function that can provide social benefit and competitive advantage at the same time, he said.
The focus of the forum, organized by Harvard Business School Club of India (alumni of HBS in India) and XIMB, was is to discuss and debate on how to scale the social impact of CSR initiatives- particularly in the field of education, healthcare and livelihoods, the organizers said.
Source: http://timesofindia.indiatimes.com/city/bhubaneswar/Odisha-finance-minister-suggests-state-level-CSR-body/articleshow/50683348.cms
Speaking at an event, Inclusive India Forum 2016, at Xavier Institute of Management Bhubaneswar (XIMB), Amat said "Odisha can gain if corporates working in the state work together on identified priority sectors together with the state government. This has to be done through formation of a state level CSR body that could lay the roadmap for such expenditure," he said.
District level CSR monitoring and evaluation needs to be taken up to see that there is no undue delay, he said.
CSR expenditure, now mandated by the central government can bring in large scale changes in several development parameters that are vital for sustainable development, Amat said.
The CSR regulations have provided much more than a portion of corporate budget for community development. It is an opportunity for companies to harness their captive resources and talent pool for effective stakeholder engagement. It has to be a strategic function that can provide social benefit and competitive advantage at the same time, he said.
The focus of the forum, organized by Harvard Business School Club of India (alumni of HBS in India) and XIMB, was is to discuss and debate on how to scale the social impact of CSR initiatives- particularly in the field of education, healthcare and livelihoods, the organizers said.
Source: http://timesofindia.indiatimes.com/city/bhubaneswar/Odisha-finance-minister-suggests-state-level-CSR-body/articleshow/50683348.cms
