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Current affairs June for CSEET

• Launch of New CSR guidelines ‘Sagar Samajik Sahayog’ (June 27, 2023)

The Union Minister of Ports, Shipping & Waterways and Ayush Shri Sarbananda Sonowal launched ‘Sagar Samajik Sahayyog’ - the new guidelines of Corporate Social Responsibility (CSR) by the Ministry of Ports, Shipping & Waterways. The new guidelines empower ports to undertake CSR activities directly.

The new CSR guidelines unveiled today will impact projects and programmes relating to activities specified in Section 70 of the Major Port Authorities Act, 2021. For the purpose of planning and implementing CSR projects, a Corporate Social Responsibility Committee shall be constituted in each major port. The Committee shall be headed by the Dy. Chairperson of the Major Port and shall have 2 other Members. Each major port shall prepare a Corporate Social Responsibility Plan for every financial year, and integrate its CSR in Business Plan with the social and environmental concerns related to the business of the entity.

CSR Budget will be mandatorily created through a Board Resolution as a percentage of net profit. A port with an annual net profit of ₹100 crores or less can fix between 3% - 5% for CSR expenses. Similarly, ports with a net profit between ₹100 crores to ₹500 crores annually, can fix its CSR expenses between 2% and 3% of its net profit, subject to a minimum of ₹3 crores. For ports, whose annual net profit is above ₹500 crores per year, the CSR expenses can be between 0.5% and 2% of its net profit. 20% of CSR expenses must be earmarked to Sainik Kalyan Board at district level, National Maritime Heritage Complex and National Youth Development Fund. 78% of funds should be released for the social & environmental welfare of the community in areas like drinking water, education, vocational training, skill development, electricity through non-conventional & renewable sources, health & family welfare, promotion of livelihood for economically weaker section of society, community centres, hostels etc. A sum of 2% total CSR expense has been earmarked for monitoring of the projects under the CSR programmes by the Ports.

• PLI Schemes contribute to increase in production, employment generation, and economic growth (June 13, 2023)

The Production Linked Incentive (PLI) Schemes have led to a significant increase in production, employment generation, economic growth and exports in the country. Shri Rajesh Kumar Singh, Secretary, DPIIT said that due to PLI Schemes, there was a significant increase of 76% in FDI in the Manufacturing sector in FY 2021-22 (USD 21.34 billion) compared to previous FY 2020-21 (USD 12.09 billion).

The PLI schemes as envisioned by the Prime Minister, Shri Narendra Modi with the objective of making India 'AatmaNirbhar' is built on the foundation of 14 sectors with an incentive outlay of Rs. 1.97 lakh crore (about US$ 26 billion) to strengthen their production capabilities and help create global champions.

Sectors for which PLI schemes exist and have seen an increase in FDI inflows from FY 2021-22 to FY 2022-23 are Drugs and Pharmaceuticals (+46%), Food Processing Industries (+26%) and Medical Appliances (+91%). PLI Schemes have transformed India’s exports basket from traditional commodities to high value- added products such as electronics & telecommunication goods, processed food products etc.

As on date, 733 applications have been approved in 14 Sectors with expected investment of Rs.3.65 Lakh Crore. 176 MSMEs are among the PLI beneficiaries in

sectors such as Bulk Drugs, Medical Devices, Pharma, Telecom, White Goods, Food Processing, Textiles & Drones.

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