November 14, 2018 10:00 AM - 12:00 PM Seminar Hall: Brahmani
The objective of this 2-hour session on ‘Corporate Social Responsibility (CSR)’ is to disseminate information on the institutionalization of CSR initiatives in the State and deliberate on the interventions required to facilitate CSR projects in ‘Reaching the ‘Unreached’Districts’of the State.
The Companies Act 2013 mandates that companies operating in India, with a minimum net worth of INR 500 crore, turnover of INR 1,000 crore or net profit of at least INR 5 crore, should spend minimum two percent of their annual profit on CSR activities. Around 8,000 companies in India fall under the ambit of CSR rules spending more than INR 15,000 crore annually.With higher economic growth and growth of the private sector, it is expected that the CSR spending will substantially increase in the coming years.
Based on the information provided by the Corporates on the CSR portal developed by the State Government, Odisha has seen an average CSR spending of approx. INR 435 crore annually in the past 4 years. However the spending has been skewed and concentrated only in a few districts. Out of the 30 districts in the State, 10 mineral-rich and relatively industrialized districts have received approx. 89% of the total CSR funding, while bottom 10 districts have received only about 3% of the total CSR spending in the State.
The State has institutionalized CSR through the formation of a CSR Council, with the key objective of enhancing the convergence of CSR activities with the developmental objectives of the State and facilitate socio-economic prosperity for the people. To aid the corporates in selecting impactful projects, the CSR Council recommends projects (based on inputs from District Collectorsand relevant Welfare departments) for the consideration of the Corporates.
The State has developed a one stop portal, GO-CARE (Government of Odisha - CSR Administration and Responsive Engagement) portal, for all the CSR activities in Odisha. With the institutionalization of CSR and the development of GOCARE portal, the State aims at ensuring that CSR initiatives are taken up across the State. Besides the projects recommended by the CSR Council, block and district level HDIs and other relevant indicators are made available to enable companies take informed decision while selecting CSR projects and locations for implementation.
The CSR session at Make in Odisha Conclave 2018 aims to bring together experts to brainstorm on the key issues and deliberate on an action plan focusing on implementation of CSR in the ‘unreached’ geographies of the State.The key topics of discussion shall include:
Odisha CSR Awards 2018 will be presented during the Conclave, to recognize CSR projects in the State, which have brought about substantial change and created positive impact in the lives of the people of the State. The application form for the awards is available on http://csr.odisha.gov.in/ and the deadline for making an application is open till October 22, 2018.
Representatives from the industry focusing on CSR initiatives, CSR professionals, academicians, advisory firms, social enterprises and other implementing agencies involved in CSR are welcome to attend and participate in the deliberations.