New Delhi [India], June 27: Union Minister of Ports, Shipping and Waterways and Ayush Sarbananda Sonowal on Tuesday launched 'Sagar Samajik Sahayyog', the new guidelines of Corporate Social Responsibility (CSR) for the Ministry of Ports, Shipping and Waterways.
According to an official statement issued by I&B Ministry, the new guidelines empower ports to undertake CSR activities directly.
Speaking on occasion, Union Minister Sonowal said, "We remain firmly committed to the idea of minimum government, maximum governance. The renewed guidelines for CSR activities allow our ports to initiate, undertake and expedite projects for community welfare through a framework where local communities can also become partners in development & change. CSR has the ability to become a major agent of change in a location or on an activity to bring positive change in the lives of the people."
Minister Sonowal further said, "Under the dynamic leadership of Prime Minister Narendra Modi ji, we are striving towards empowering our people, our institutions in a way that it caters to the needs of the community as well as make the community a partner in the process of change & progress India to become Atmanirbhar."
The new CSR guidelines unveiled today will impact projects and programmes relating to activities specified in Section 70 of the Major Port Authorities Act, 2021. For the purpose of planning and implementing CSR projects, a Corporate Social Responsibility Committee shall be constituted in each major port, the statement added.
The release further stated that the Committee shall be headed by the Deputy Chairperson of the Major Port and shall have 2 other Members. Each major port shall prepare a Corporate Social Responsibility Plan for every financial year, and integrate its CSR in Business Plan with the social and environmental concerns related to the business of the entity, the statement said.
"CSR Budget will be mandatorily created through a Board Resolution as a percentage of net profit. A port with an annual net profit of Rs 100 crores or less can fix between 3 - 5 per cent for CSR expenses. Similarly, ports with a net profit between Rs 100 crores to Rs 500 crores annually, can fix their CSR expenses between 2 per cent and 3 per cent of their net profit, subject to a minimum of Rs 3 crores. For ports, whose annual net profit is above Rs 500 crores per year, the CSR expenses can be between 0.5 per cent and 2 per cent of its net profit", the statement read.
The statement added that 20 per cent of CSR expenses must be earmarked to Sainik Kalyan Board at the district level, National Maritime Heritage Complex and National Youth Development Fund. While 78 per cent of funds should be released for the social & environmental welfare of the community in areas like drinking water, education, vocational training, skill development, electricity through non-conventional & renewable sources, health & family welfare, promotion of livelihood for economically weaker section of society, community centres, hostels etc, it added.
A sum of 2 per cent of total CSR expense has been earmarked for monitoring of the projects under the CSR programmes by the Ports, the statement added.
The event was also attended by Union Minister of State for MoPSW, Shantanu Thakur & Union Minister of State of MoPSW, Shripad Yesso Naik.
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