Sagar Samajik Sahayyog : New CSR Guidelines
The Ministry of Ports, Shipping & Waterways has launched ‘Sagar Samajik Sahayyog,’ its new guidelines for Corporate Social Responsibility (CSR), aiming to empower ports to address local community issues in a more cooperative and swift manner.
Key Highlights of the Guidelines:
- Ports in India will allocate a specific percentage of their net annual profit towards CSR activities.
- The CSR budget for ports will be based on their respective turnover for the year, the division will be as follows:
- Ports with an annual turnover of less than Rs 100 crores will spend 3-5% on CSR.
- Ports with a turnover between Rs 100 to 500 crores will spend 2-3%.
- Ports with a turnover exceeding Rs 500 crores will spend 0.5-2%.
- 2% of the total CSR expenses will be dedicated to project monitoring by the ports to ensure effective implementation and monitoring of the respective CSR projects.
- Each Major Port will establish a corporate social responsibility committee, headed by a deputy chairperson of major port to plan and implement CSR initiatives.
- The committee will consist of two other members. CSR projects must be implemented into the business plans of major ports, addressing social and environmental concerns related to their operations.
- A CSR plan will also need to be prepared for each financial year.
- The CSR projects and programmes will focus on activities specified in Section 70 of the Major Port Authorities Act, 2021.
- According to Section 70 of the Act, the organization may use its funds for providing social benefits including development of infrastructure in areas of education, health, housing, skill development, training and recreational activities for its own employees, customers etc.
- 20% of the CSR expenses must be earmarked for the Sainik Kalyan Board at the district level, the National Maritime Heritage Complex, and the National Youth Development Fund.
- Additionally, 78% of the funds should be directed towards social and environmental welfare initiatives benefiting the community.
- These include projects related to drinking water, education, vocational training, non-conventional and renewable energy sources for electricity, health and family welfare, livelihood promotion for Economically Weaker Sections (EWS), community centers, and hostels.
- 2 % of the total CSR expense is allocated for project monitoring under the CSR programs by the ports.
