SAC approves framework for Corporate Social Responsibility

SAC approves framework for Corporate Social Responsibility

JAMMU: The State Administrative Council (SAC), chaired by Governor N N Vohra met on Monday and approved the framework for implementing Corporate Social Responsibility (CSR) funded projects in J&K.
The framework has been evolved in the backdrop of expression of positive interest by a number of fully/partly-owned State and Central Government Companies/Corporations operating in J&K, besides individuals and philanthropists, including members of the J&K Diaspora, pan India and abroad, who are willing to contribute towards the efforts of the State Government for rebuilding public infrastructure which has been damaged by the varied difficult circumstances which have obtained in the State for the past many years.
It was observed that a large number of Central Government Companies/Corporations and other business/private Companies are actively associated with the reconstruction activities in J&K which are propelled by substantial capital expenditure under the Centrally Sponsored Schemes and the Reconstruction Plan announced by the Prime Minister on November 7, 2015. The post-flood reconstruction works have also unlocked varied opportunities for private sector involvement in J&K.
Under the Companies Act, 2013 every company is required to spend towards CSR two per cent of its net profits every year. To facilitate the receipt of contributions from these companies, a CSR Fund has been set up. As per the modalities of the new framework, no Government department/agency or state owned PSU/Corporation will receive contributions directly from any Company/Philanthropist/NGOs unless it has been routed through the CSR Fund and its utilization approved by the Governing Body. The contributions from Companies and philanthropists shall be received in a single bank account to be opened in the J&K Bank (Secretariat Branch). The bank account will be operated jointly by the Chief Secretary and the Finance Secretary. Donations into the Fund may be made through online payments through net banking or by debit and credit cards or through cheques/Demand Drafts.
The CSR Fund would be administered by a Governing Body chaired by the Chief Secretary, J&K and have as its members Financial Commissioner, Planning, Secretary Finance, Secretary Power Development, Secretary Housing and Urban Development, Secretary Rural Development, Secretary School Education, Secretary Health and Secretary Social Welfare. The Administrative Secretaries of the Tourism, Culture and other concerned departments would be invited as and when their proposals are deliberated.
The line Departments in the State Government will propose projects to the Governing Board pertaining to activities which may include inter alia eradicating hunger, poverty and malnutrition; promoting preventive health care and sanitation including contribution to the Swach Bharat Abhiyan for the promotion of sanitation and making available safe drinking water; construction of community/individual toilets in rural areas, urban area, in elementary, secondary and senior secondary government schools, aanganwaadis (centres that provide support to children below 6 years and their mothers under the Integrated Child Development Scheme), etc.

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