Don't think CSR as charity: Balasubramaniam

Dr R Balasubramaniam, founder of Swami Vivekananda Youth Movement told real estate developers not to think corporate social responsibility (CSR) as a charity or philanthropy towards the society but it's their responsibility towards community and environment. 

He was speaking on CSR activities, participating in the 'STATECON-2015', a two days state level annual convention of Confederation of Real Estate Developers Association of India (CREDAI) organized here on Thursday.

Balasubramaniam said in India, 54% children are suffering by malnutrition, 70% families don't have toilets, 65% people not getting potable drinking water, every third person is under poverty line, thousands of villages are yet to get school facility. This is all happening because 85% wealth of the country is generated and controlled by just 20% of people. There is huge gap that need to be bridged not by pulling down the rich but pushing up the poor, he said.

CSR rules under Companies Act-2013, which implemented since 2014 has made mandatory to corporate companies spending the minimum share of profit on CSR activities. However, through CSR, total contribution of corporate sector for social development is just around Rs 20,000 crores across the country, which is very less, Balasubramaniam opined.

Meanwhile he took jibe on increasing number of CSR consultancy firms to help corporate companies to figure it out the issues regarding CSR. He said there is no need of consultancy to deal CSR issue but need the good heart and feeling towards downtrodden communities. Balasubramaniam called upon developers' community to think out of box to help poor in rural areas utilizing CSR. He alleged most of the companies want to spend CSR funds in Bengaluru and using it as a medium of publicity.

-The Times of India