Corporate Social Responsibility with a Personal Touch
The idea of corporate social responsibility (CSR) in India, is not a new one. It existed in the form of philanthropy well before the Industrial Revolution made its impact in India. The 19th century saw India’s corporate giants take an active role in promoting social causes, but they did incorporate their biases and ulterior motives in a covert manner into whatever practices they chose to undertake. The Companies Act, 2013, which came into effect on 1 April, 2014 mandates companies having a net worth of Rs. 500 crores or a turnover of Rs. 1000 crores or a net profit of Rs. 5 crores, to spend 2 per cent of their average net profit of the previous three years on corporate social responsibility activities. Mr Manguirish Pai Raiker is a prominent business figure in Goa, who has in addition to his long list of credentials, the honour of being the erstwhile president of Goa Chamber of Commerce and Industry and the director of Goa Handicrafts Rural and Small Scale Industries Development Corpor