In his address on ‘Philosophy of India’s Economic Policies’ at the Maharatta Chamber of Commerce, Industries and Agriculture (MCCIA) in Pune, he stated that the concept of Corporate Social Responsibility (CSR) is not a recent development for India.
Bhagwat talked about how business was conducted in the distant past, when Indian economy was decentralised and though it manufactured a lot, consumption was limited. He reminded the audience that India economy has always acknowledged the concept of donation. CSR is not a new concept for India and mentioned how a farmer does not grow food grains for his own consumption, but for that of others.
- Also Read: CSR spends of India Inc increase during pandemic led by RIL, HDFC Bank
He touched upon various aspects of business and economy including use of machinery for increasing productivity and not to reduce the employment, use of renewable sources of energy such as solar and wind, considering all business stakeholders as a family and treat them accordingly, so that all can prosper together.
He further went on to say that there is nothing wrong in earning wealth, but one should not forget that Indian philosophy and culture don’t consider money as the only wealth, but that one also strives to gain the wealth of mind and intelligence.
- Also Read: Regulation of CSR has become over-zealous
Bhagwat laid down a roadmap for the optimum utilisation of the wealth created, when he invoked the accepted norms of the past of dividing one’s income into six parts, which would be equally distributed among self-consumption, saving for a rainy day, for religious use, for the society, for the governing body so that they can put it use of the common citizens and finally for any contingency.
Answering questions about the economic prospects of the country from the audience, he urged people to strive towards ensuring positive change in their immediate surroundings and people and to do so consistently. He further underlined the need to remain patient and that positive change is imminent in the next 20-30 years.
Credit:Source link
