Sagar Samajik Sahayyog

Context- “Sagar Samajik Sahayyog” was launched by the Union Minister of Ports, Shipping, and Waterways.

Key Highlights About ‘Sagar Samajik Sahayyog’

• It is the new rules of  Corporate Social Responsibility (CSR) by the Union Minister of Ports, Shipping, and Waterways.
• It engages ports to straightforwardly attempt CSR exercises.
• It permits ports to start, embrace and facilitate projects for local area government assistance through a system where nearby networks can likewise become accomplices of improvement and change.

Features 

• It will have an effect on programs and projects related to the activities listed in Section 70 of the Major Port Authorities Act, 2021.
• To design and carrying out CSR projects, a Corporate Social Responsibility Committee will be comprised in each significant port.
  • The Dy Chairperson will be in charge of the Committee of the Significant Port and will have 2 other members.
• A Board Resolution will be required to establish a CSR Budget as a percentage of net profit.
  • A port with a yearly net profit of 100 crores or less can fix between 3% – 5% for CSR costs.
  • In a similar vein, ports with annual net profits of between 1100 crores and 1500 crores can set their CSR expenses at 2% and 3% of their profits, with a minimum of 13 crores.
• The costs associated with corporate social responsibility (CSR) can range anywhere from 0.5 percent to 2 percent of a port’s annual net profit.

Goals

•  The rules plan to engage ports to address nearby local area issues in a more helpful and quick way.
• CSR can turn into a significant problem solver in an area or on a movement to get positive change the existences of individuals.
• Its objective is to guarantee that ports of all sizes contribute to community welfare 

Note

• A company can ensure that its operations are ethical and beneficial to society by incorporating environmental, social, and human development concerns into its planning and actions through corporate social responsibility (CSR).

• In India, CSR has traditionally been viewed as charitable work. Be that as it may, with the presentation of Segment 135 in the Organizations Act 2013, India turned into the main country to have legally ordered CSR for determined organizations.

• The Act requires companies with a net worth of more than 1500 crore yen, a turnover of more than 11,000 crore yen, or a net profit of more than 15 crore yen to devote 2% of their average net profits over the previous three years to CSR initiatives.
• It lists the activities that can be done and how businesses can participate in CSR projects and programs.

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