Context: 

The Ministry of Ports, Shipping & Waterways launched ‘Sagar Samajik Sahyog’ – the new guidelines of Corporate Social Responsibility (CSR). 

About the News Guidelines:

• Objectives
  • To empower ports to undertake CSR activities directly
  • To allow ports to initiate, undertake and expedite projects for community welfare through a framework where local communities can also become partners of development & change.
• CSR Committee: 
  1. For the purpose of planning and implementing CSR projects, a Corporate Social Responsibility Committee shall be constituted in each major port. 
  2. The Committee shall be headed by the Dy. Chairperson of the Major Port and shall have 2 other Members. 
• CSR Plan: Each major port shall prepare a Corporate Social Responsibility Plan for every financial year, and integrate its CSR in the Business Plan with the social and environmental concerns related to the business of the entity.
• CSR Budget will be mandatorily created through a Board Resolution as a percentage of net profit.
• Expenditure :
  • 20% of CSR expenses must be earmarked to Sainik Kalyan Board at district level, National Maritime Heritage Complex and National Youth Development Fund. 
  • 78% 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 sections of society, community centres, hostels etc. 
  • A sum of 2% total CSR expense has been earmarked for monitoring of the projects under the CSR programmes by the Ports.

News Source: pib