An Empirical Study on CSR with Reference to Agriculture Sector
Ms. Chandrakala N
Assistant Professor
Department of Commerce
St. Josephs’ First Grade College, Jayalakshmipuram, Mysore
E-mail ID: chandrikan2291@gmail.com
Ms. Nayana K S
Assistant Professor
Department of Commerce
St. Josephs’ First Grade College, Jayalakshmipuram, Mysore
E-mail ID: nn.sampath@gmail.com
Abstract
Prior to the Company’s Act of 2013, it was not mandated to conduct CSR (Corporate social Responsibility) activities from corporate business. But as per section 135, of company’s act of 2013, made it compulsory for certain business houses.CSR is nothing but a set of obligation that a corporate should have towards the society. This paper throws light on sustainable development of our country through various new horizons the corporate sector conducts in the management, to contribute to CSR activities. Especially, a certain set of percentage among their contributions should be made compulsory on agricultural sector, for those firms which have net profit of Rs. 5 corer and above. As agriculture is the backbone of our country, it is essential to concentrate on that sector without which we can’t lead our life. And most of the citizens now in our country are educated; as a result they hesitate to become a farmer which is not a cheap job. Most of the farmers even now they have dependency on rain water for harvesting. So to overcome these sorts of problems, to improve the standard of living of our farmer and to reduce the death rate of our farmers due to insolvency, strategies and policies should be framed out by the CSR committee to set a fixed percentage of CSR, which should be compulsorily boned by various corporate towards their CSR activity towards agricultural sector. As firms cannot expect any positive response towards the CSR to agricultural sector, firms can give only a part of their contribution. Say for example, firm ‘A’ might have planned to contribute to CRS around 25% of their profit every years for which definitely they may going to get positive response and brand expansion, among 25%. 7 to 8% they can contribute to agricultural sector which leads to the economic development of our own country where all of us our leading luxurious life.
Key Words: Corporate Social Responsibility, Agricultural Sector, Companies Act
