Corporate Social Responsibility funding can be invested to create a better social transformation in the country. Discuss (200 Words)
Refer - Business Line
Enrich the answer from other sources, if the question demands.
IAS Parliament 2 years
KEY POINTS
· In 2019, Finance Minister Nirmala Sitharaman announced that the scope of corporate social responsibility (CSR) is being expanded to allow firms to support research and innovation by government-funded incubators.
· A policy environment that encourages CSR investments in technology-led solutions has made sustainable and scalable solutions a reality.
· Additionally, collaborations with local bodies and the establishment of governance and community engagement structures can ensure these projects become self-sustainable in the long run.
· For example, IIT Madras is home to one of the best deep tech startup ecosystems in the country with one new tech start-up being incubated every week.
· The fact that the government’s CSR policy allows a company to choose to intervene at any point in the end-to-end tech value creation process is a great enabler.
· Leveraging CSR for innovation through educational institutions such as the IITs also presents an opportunity to harness and nurture the potential of the students and faculty.
· It is time for companies to leverage their CSR to invest in projects which will create transformative value in the long term, drive change, contribute to the research and innovation ecosystem, and nurture future talent by building partnerships with institutions of learning.
Manish 2 years
PLEASE REVIEW !
IAS Parliament 2 years
Details about CSR are not required and try to focus on social transformation. Keep Writing.
