Sagar Samajik Sahayog
Polity & Governance
30th Jun, 2023
The Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal, has unveiled the new corporate social responsibility (CSR) guidelines called 'Sagar Samajik Sahayog' by the Ministry of Ports, Shipping & Waterways.
- Aim: This system aims to ensure that ports of all sizes contribute to community welfare initiatives.
- The newly released regulations will enable ports to carry out CSR initiatives directly.
Major ports are included in the Indian Constitution's Union list and are governed by the Indian Ports Act of 1908 and the Major Port Trust Act of 1963.
- Projects and programmes involving the activities listed in Section 70 of the Major Port Authorities Act, 2021 would be impacted by the rules.
- Under the new guidelines, ports in India will allocate a specific percentage of their net annual profit towards CSR activities.
- Allocation Based on Annual Turnover: The CSR budget for ports will be based on their respective turnover for the year, the division will be as follows:
- Ports with an annual turnover of less than Rs 100 crores will spend 3-5 per cent on CSR
- Ports with a turnover between Rs 100 to 500 crores will spend 2-3 per cent
- Ports with a turnover exceeding Rs 500 crores will spend 0.5-2 per cent
- Two per cent of the total CSR expenses will be dedicated to project monitoring by the ports in order to ensure effective implementation and monitoring of the respective CSR projects.
- Type of CSR Project: The CSR projects and programmes will focus on activities specified in Section 70 of the Major Port Authorities Act, 2021.
- The ‘Sagar Samajik Sahayyog’ initiative aligns with the government’s vision of inclusive growth and sustainable development, emphasizing the importance of CSR as a means to achieve these goals.