PSUs to make info on CSR public

The Ministry of Public Enterprises has designated Tata Institute of Social Sciences as the Corporate Social Responsibility (CSR) hub besides creating a database of all the CSR projects undertaken by central public enterprises.

The department has taken these initiatives after making mandatory for the PSUs to spend a prescribed portion of their net profit on CSR projects from April, 2010.

Speaking at a conference held on best practices in CSR here recently, Bhaskar Chatterjee, secretary, Department of Public Enterprises, said CSR initiatives would be in the form of specific projects while services of TISS would be utilised in determining such project ideas apart from evaluating the implementation and results of those projects.

 

The central public enterprises together earn Rs 1 lakh crore in net profits every year and setting aside even a small portion of it would mean humongous amount being made available for CSR activities in the country. According to him, the 240-odd central public enterprises contribute 7-8 per cent to the GDP every year.