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        Corp. Laws, SEBI & IBC

        Government Social Welfare Programmes and CSR can Combine to give the People of this Country A Better Future

        January 12, 2015

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        While addressing delegates at a Seminar, “CSR : Touching Lives and Making An Impact” , held on the sidelines of Vibrant Gujarat, in Gandhinagar today, Union Minister for Finance & Corporate Affairs, Shri Arun Jaitley, briefly recalled the history of social service in the present century. He said that India has a tradition of philanthropy which is part of Indian culture, wherein tribute is always paid to the Daridranarayan. In the past decades, social programmes have been community based. Globally, the concept gained ground in 1953 with wide ranging definitions. Statutorily in India, it has acquired recognition since 2013.

        The Minister went on to say that welfare and economy programmes should identify the weakest segments of society and only them go about making schemes. He said that before the Jana Dhana Yojana, only 58 % people had bank accounts. Today the scheme has reached 11 crore people. The transfer of funds into these accounts has started from 1st January 2015. The scheme also provides for a credit card, accident insurance as well as life insurance.

        The Finance Minister pointed out that the Swachh Bharat Campaign has had a tremendous impact as it had been adopted by society as a whole. He hoped that CSR funds would be used for furthering this cause. Shri jaitely told the gathering that politicians too had been given their share of social responsibility, that of adopting a village and ensuring its growth and development.

        Shri Jaitely also said that he has been associated with Vibrant Gujarat from the very beginning and it has grown to be a formidable instrument of business activity in Gujarat and India. In conclusion he expressed his desire that business houses and the Government should come together to remove the start inequality in the country.

        Corporate social responsibility aligning with government welfare programmes to target weakest social segments and amplify sanitation and financial inclusion. The note urges integration of Corporate Social Responsibility with government social welfare programmes to concentrate resources on the weakest social segments, relying on CSR's statutory recognition since 2013. It advocates that CSR funds complement public schemes-illustrated by Jan Dhan Yojana's financial inclusion measures and the societal adoption of the Swachh Bharat sanitation campaign-and calls for public-private collaboration to reduce structural inequality through targeted interventions such as sanitation, insurance, and credit access.
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                                Corporate social responsibility aligning with government welfare programmes to target weakest social segments and amplify sanitation and financial inclusion.

                                The note urges integration of Corporate Social Responsibility with government social welfare programmes to concentrate resources on the weakest social segments, relying on CSR's statutory recognition since 2013. It advocates that CSR funds complement public schemes-illustrated by Jan Dhan Yojana's financial inclusion measures and the societal adoption of the Swachh Bharat sanitation campaign-and calls for public-private collaboration to reduce structural inequality through targeted interventions such as sanitation, insurance, and credit access.





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