Question Q.6Explain with suitable examplesGS2GS2

In what ways do industry and business associations contribute to socio-economic development in the country? Explain with suitable examples.

Introduction

Post 1991 LPG reforms, role of Industry and Business association in socio-economic development has rapidly increased and transformed.

18 words

Main Body

Ways of Contribution 1) CSR contribution under Sec 135 of Companies Act Eg: Godrej - WWF India 2) NGO funding Eg: SMILE foundation receives 80% funding from corporates 3) Developmental Projects Eg: River Dravyavati cleaning in Jaipur by TATA 4) PPP projects Eg: Amrit Bharat Railway stations.

Way Ahead 1) Diversification of CSR to Tribal outreach, Rural areas etc. 2) PPP reforms like sharing of risks; BOT model 3) Centralised database of Contributions Eg: DARPAN for NGOs 4) 3rd party audits + Integrity Pacts.

— Madhvendra Pratap Singh · AIR 153

84 words1 paragraphs

Conclusion

Further Gandhiji's Trusteeship model makes it a moral responsibility for Private sector to contribute towards socio-economic development of nation.

19 words

Diagram

Cloud diagram labeled 'Ways of Contribution' with four branches pointing to CSR, NGO funding, Developmental Projects, and PPP projects

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Madhvendra Pratap Singh

AIR 1532025

Subject & Paper

GS2GS2

Topic

Development Processes - Role of NGOs, SHGs, Donors, and other Stakeholders

Donors and Charities

Role of Industry and Business Associations in Socio-economic Development

Writing Stats

121

Total words

Paragraphs

analytical

Tone

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