Friday, 27 December 2019

National Corporate Social Responsibility Awards (NCSRA)

The President of India, Shri Ram Nath Kovind, presented first National Corporate Social Responsibility (CSR) Awards to selected companies on 29.October.2019. The President conferred national awards to winning companies in two categories namely, “Corporate Award for Excellence in CSR” and “Contribution of CSR in Challenging Circumstances”.

In his address, President Shri Ram Nath Kovind observed that through National CSR Awards companies are being recognised for their contribution to society. Such contribution through CSR is a true manifestation of the trusteeship philosophy of Father of Nation, Mahatma Gandhi. He also noted that the award assume greater significance since these are being presented in the 150th birth anniversary of Mahatma Gandhi. He stated that CSR has now become an integral part of business philosophy such that companies also carry activities which directly benefit the poor and needy including women, people with special abilities, rural areas, slums, etc. The President congratulated the companies for building healthy and inclusive societies, sustainable markets, combating corruption and safeguarding the environment. The President also announced that going forward National CSR Awards will be given away on 2 October every year. He called upon the industry to strive to achieve the target of providing good quality personal care to all orphan children.

The ceremony was graced by the President of India, Shri Ram Nath Kovind, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, Minister of State for Finance and Corporate Affairs, Shri Anurag Singh Thakur, Secretary, Ministry of Corporate Affairs, industry leaders, Shri Injeti Srinivas, and DG&CEO, IICA, Dr Sameer Sharma. A large number of senior government functionaries, CSR professionals, were present during the National CSR Awards Ceremony held.

The National CSR Awards have been instituted by the Ministry of Corporate Affairs to recognize corporate initiatives in the area of Corporate Social Responsibility (CSR) to achieve inclusive growth and inclusive and sustainable development. The Indian Institute of Corporate Affairs (IICA), think-tank of the Ministry, has rendered technical and logistics support in the conduct of the rigorous award process.

Winning companies in the third category of Awards, i.e. “Contribution of CSR in National Priority Areas” were felicitated by Finance Minister Smt Nirmala Sitharaman. In her address, the Finance Minister said that CSR is not merely contribution of funds, it is the corporate contribution towards inclusive societies which matters. Smt. Sitharaman emphasized that companies should strive for development of North Eastern region of the country. She assured the industry that while administering the law, the core spirit of CSR shall be protected. She further added that the MCA would encourage, and not force, companies to come forward and embrace CSR. She released a coffee table book on CSR activities by companies in India. The first copy of the coffee table book was presented by Smt. Sitharaman to the President of India. The book contains the noteworthy focus and impact of CSR activities on ground.

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Projects fund to be deployed in areas identified for CSR in Schedule VII of the Companies Act and aligned with provisions of Section 135 of the Act;

  1. Activities implemented by not-for-profit  Trust (TCF) with track record of 12+ years in priority areas of health and education.
  2. Contributions to TCF  eligible for inclusion under CSR spend as per the Companies Act  AND eligible for 50% deduction under section 80G of the Income Tax Act
  3. Registered with the Ministry of Home Affairs under Section 11 (1) of the Foreign Contributions (Regulation) Act (FCRA), 2010. It is also registered with the National Health Mission and NITI Aayog.

Available Tax Benefits

  1. 50% weighted deduction under Section 80G for contribution out of ‘income from business or profession’, 
  2. Registered with the Ministry of Home Affairs under Section 11 (1) of the Foreign Contributions (Regulation) Act (FCRA), 2010.

For further information or any clarification :

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Contact: Mr. Binu Varghese, Director- Projects (C.S.R) & Strategy
+91 9880 35 8888 / +91 9880 39 6666
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