Corporate nowadays
have begin to realize that they have certain level of responsibility towards
the society. A growing realization has developed among corporate that they
should contribute to social activities globally with a desire to improve the
immediate environment where they work and many companies are taking keen
interest in such activities. This has also developed due to the general
perception that companies paying genuine attention to the principles of social
responsibility are favored by the public who prefer to consume their goods
and services. This has given rise to the concept of Corporate Social
Responsibility (CSR).
The term social responsibility
is based on the doctrine that claims that any entity whether it is government,
corporation or individual has a responsibility towards society they are part
of. Narayan Murthy, the founder of Infosys once said about Corporate Social
Responsibility that ‘social responsibility is to create maximum shareholders
value working under the circumstances, where it is fair to all its
stakeholders, workers, consumers, the community, government and the environment.'
Majority of population in
India lives in its villages. Literally and from the social, economic and
political perspectives the statement is valid even today. 65% of the countries population
is living in rural areas. People living in rural areas should have the quality
of life equivalent to the life enjoyed by people living in sub urban and urban
areas. Apart from this problems like poverty, unemployment, poor and inadequate
infrastructure in rural areas effects adversely on urban centres causing slums
and consequential social and economic tensions manifesting in economic deprivation
and urban poverty. Hence, Rural Development, that is concerned of economic growth and social justice and improvement
in the living standard of the rural people by providing adequate and quality
social services and minimum basic needs become essential.
India is a land primarily based
on agriculture. Agriculture contributes nearly one-fifth of the gross domestic
product in India. In order to increase the growth of agriculture, the
Government has planned several programs pertaining to Rural Development in
India. Innovative
Financial Advisors Pvt. Ltd. designs social concepts related to agriculture
and allied sectors to increase the yield per hectare as well as increase income
from the activities by strengthening the value chain.
Apart from this, Innovative
Financial Advisors Pvt. Ltd. also develops concepts to provide alternative
skills to rural people through CSR projects. Providing alternative skills to
rural people reduces their dependency on agriculture that doesn't provide sustainable
income. Corporate Social Responsibility is thus considered very important
as far as rural areas are concerned.
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