New CSR policy for firms conducting sports activities for school students @ Maharashtra
Companies
interested in conducting sports activities for school students as part of their
corporate social responsibility (CSR), must now abide by a new policy, which
the Maharashtra school education and sports department framed and introduced on
Thursday.
A
government resolution (GR) issued by the department states that a framework for
streamlining such projects was necessary as various companies in Maharashtra
are taking up CSR.
“Playing
games is as important as education, for a healthy life. The Sports Policy
declared by the government of Maharashtra in 2012 focused on fitness for all
through sports. To invite participation of corporates in the sports sector, the
framing of a CSR policy was under consideration,” reads the GR.
Under
existing government rules, it is mandatory for companies with a net worth of
Rs500 crore or more, or a turnover of more than Rs1,000 crore or net profit of
more than Rs 5 crore to spend 2% of their average profit in CSR activities.
The
new policy states that companies can undertake activities such as strengthening
sports facilities in kridha prabhodinis run by the government, supporting
training in or outside the country and providing medical and insurance cover to
the players.
To
co-ordinate these projects, the government has set up three steering committees
at the state, commiserate and district level- to facilitate, coordinate and
monitor the corporate sector and support activities in the state’s sports
sector.
These
panels will be headed by principal secretary of the department, commissioner of
sports and youth services and the district collector. They will plan the CSR
activities and ensure they are carried out according to the proposed plan,
timeline and projected outcome.
Source | Hindustan Times | 18 November 2016
Pralhad
Jadhav
Senior
Manager @ Library
Khaitan & Co
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