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Current Affairs 28-09-2018

High Level Committee Constituted on Corporate Social Responsibility

  • A High Level Committee on Corporate Social Responsibility – 2018 (HLC-2018) has been constituted under the Chairmanship of Shri. InjetiSrinivas, Secretary, Ministry of Corporate Affairs (MCA) to review the existing framework and guide and formulate the roadmap for a coherent policy on Corporate Social Responsibility ( CSR).
  • The Committee is expected to review the existing CSR framework as per Act, Rules and Circulars issued from time to time and recommend guidelines for better enforcement of CSR provisions.
  • It will analyze outcomes of CSR activities/programmes/projects and suggest measures for effective monitoring and evaluation of CSR by companies.
  • Suggestions are also expected on innovative solutions, use of technology, platform to connect stakeholders, and social audit.
  • The provisions of section 135 of Companies Act, 2013 (Act) pertaining to Corporate Social Responsibility (CSR) came into force on 01.04.2014 with a view to promoting responsible and sustainable business through inclusive growth.
  • The four years of implementation have enabled compilation of data on the number of companies complying with CSR provisions, funds allocated and spent across various sectors, geographical spread of CSR spending, etc.
  • Experience has also been gained on the quantum, outreach and impact of CSR (which is estimated to be around Rs. 38, 000 crore up to FY 2016-17) and immense feedback has been received on how CSR provisions can be leveraged to have larger and more impactful outcomes.
  • The existing provisions in Companies Act, 2013 with respect to CSR fully empower the Board of a Company to decide on their CSR Policy, approve projects and oversee implementation.
  • Many suggestions with respect to CSR such as local preference, earmarking CSR spend for backward areas, contribution to national/state funds, notifying priority areas, monitoring compliance, supplementing / complimenting government programmes, etc. have been received from various stakeholders.
  • The Ministry had earlier set up a High Level Committee on CSR in 2015 which made several recommendations, including review of CSR framework after three years which is almost over.

Twenty Embryo Transfer Technology (ETT) centres

  • Twenty Embryo Transfer Technology Centres are being established in the country and a proposal of 19 centres has been approved so far.
  • This was stated by the Minister of Agriculture and Farmers Welfare ShriRadha Mohan Singh at the foundation laying ceremony of Embryo transfer Technology ceremony of Embryo Transfer Technology (ETT) centre in the Bharatiya Agro Industries Foundation (BALF), Uruilikanchan, Pune.
  • 3000 high genetic merit bulls of indigenous bovine breeds are being produced from these centres. Two of these centres are to be set up in Nagpur and Pune in Maharashtra.
  • The Minister observed that agriculture and dairy business complement each other for the social and economic upliftment of cattle farmers.
  • To achieve this objective, it is essential to have good quality livestock breed in order to increase production.
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