CB BureauEmphasising the role of corporate social responsibility (CSR), which is intrinsically linked with the concept of sustainable development, Prime Minister Manmohan Singh said, ‘Corporate governance including responsible conduct towards all the stakeholders, within the corporation as well as outside, is also seen as good economics besides desired moral behaviour.
‘Corporate social responsibility (CSR) is therefore increasingly being seen as a fundamental dimension of the social contract between human beings and therefore sought to be subject to public disclosure and scrutiny. The contours and foot print of CSR are widely debated but there is today a growing consensus that it is intrinsically linked with the concept of sustainable development,’ he said.
Singh made this statement while addressing the Conference on Economic Growth in Asia and Changes of Corporate Environment, where he said the government would soon bring before Parliament the new Companies Bill.
Talking about transformational changes in this century, the Prime Minister said the government was examining many of the commercial and corporate laws to make them relevant to the challenges that lie ahead, particularly for ensuring distributive equities and empowerment of the marginalised sections of our society.
‘Increasing use of this word “inclusive” is indication of this new emphasis on equity in economic and social processes,’ said Singh.