Government, corporates unite for growth

More than 100 corporate houses have decided to join the state government in its development approach in nine notified sectors, including Swachh Bharat, skill development and forests. The finance ministry will organise a conclave on January 8 at Raj Bhavan in which the corporate sector will present its ideas through the CSR fund. Governor C. Vidyasagar Rao will attend the conclave.

“This event is an attempt to combine efforts of the government and the corporate world to achieve desired results in helping corporate organisations to judiciously use their CSR funds while addressing the developmental needs of the states,” finance minister Sudhir Mungantiwar said.

He said that the government would act an enabler by identifying the relevant areas of development and helping the organisations to invest in not only a cause they believe in, but also in the growth of the state. “We welcome all the corporates whose participation will encourage collective initiative to bring about socio-economic change in the state of Maharashtra through CSR activities in a focussed and measurable manner,” he said.

He further said that the finance ministry, along with the governor has decided on nine priority areas like Swachh Bharat, skill development, forests, renewable energy etc and that the government wants money to be used for projects in a more efficient way by avoiding duplication of projects.

Mr Mungantiwar said that the government may also form a team that will facilitate and assist corporate firms and point them in the right direction so as to focus on the marginalised and under-privileged and maximise the impact.

The two-hour event, which will include about 150 corporate houses, will open with a presentation by KPMG, followed by the government’s presentations on their vision, targets, geographic focus, and opportunities for CSR collaboration and how to partner with them.

The Companies’ Act 2013 mandates that corporates with more than '5 crore net profit must use at least two per cent of its profit over three years for a list of activities mentioned under CSR rules.