Whether Sec.135 CSR Provision of Companies Act 2013 will be a game changer and will give strategic advantage to those companies which are engaged in sincere implementation or it will become merely a Compliance Issue.
It is expected that about 8,500 private companies and PSUs will be coming in the ambit of Mandatory CSR. There are estimates that Rs.10,000 to Rs.20,000 crores are likely to be spent. Do we have capabilities to plan, implement, evaluate and comply with such a huge Mandate?
Future success of Mandatory CSR will depend on Imaginative, meaningful and sustainable alliances between Stakeholders viz. Corporates, CSR Foundations, NGOs, Government agencies and regulatory bodies. Do we have positively such kind of Strategic Alliance?
By 2025, seven billion people will have Smart phones in their hands. Out of which one billion will be Indian demand for more transparence, equality, → CSR→ CSA.
Implementation is Challenging:-
1 Year (FY 2014-15) Survey of 100 BSE listed Companies, 27% companies spent more than Prescribed CSR amount.
64% Companies spent less than Prescribed CSR amount.