Business and economics

Sarbananda Sonowal launches New CSR guidelines ‘Sagar Samajik Sahayog’

Published on 29 Jun 2023

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Sarbananda Sonowal launches New CSR guidelines ‘Sagar Samajik Sahayog’
  • The Union Minister of Ports, Shipping & Waterways and Ayush, Sarbananda Sonowal, has introduced a set of new corporate social responsibility (CSR) guidelines called 'Sagar Samajik Sahayog' by the Ministry of Ports, Shipping & Waterways.
  • Under the new CSR guidelines, ports in India will allocate a specific percentage of their net annual profit towards CSR activities. 
  • The allocation will be based on the turnover of each port for the year.
  • Ports with an annual turnover of less than Rs 100 crores will allocate 3-5% of their net annual profit towards CSR initiatives.
  • Under CSR, companies integrate social and environmental concerns with their business partners with their stakeholders.
  • It is regulated under Section 135 of the Companies Act, 2013.
  • India is the first country in the world to make CSR mandatory.
Source: SarkariPariksha