Responsible Business – a strategy to achieve social goals

A few days after, we are going to celebrate the World Environmental Day. Last year also we have celebrated the world environmental day. The theme of that year was ‘Green Economy: Does it include you? The theme put forwarded by United Nations was very meaningful. Even though the theme incorporates ‘Economy’ the term ‘green’ made it a sustainable development concept. in the Indian context the theme is very relevant. After the neoliberal policies the average Gross Domestic Product of India is historically high among other countries. The role of private and corporate is very decisive in the rocketing growth of India. Different studies prove that during the last decade the growth of private sector is around 387 %. But the paradox is that the Goeni   coefficient of India is 0.8 which shows that economic equality is very high in India. Albeit the constitution of India’s preamble and directive principles enshrines   economic as well as social justice for her citizen, it is now a daydream for millions of Bharathians or rural Indians. When a major chunk of income accumulates in the hands of a minority rich, a majority rural Indians still in poverty, unemployment, malnourishment and in the traps of vicious circles – serious dilemma yet unresolved.

It is evident that government alone can’t achieve its social goals. The situation is very relevant in Kerala where 82.3% of the expenditure goes for pension and the NRI contribution is 2.3 times of SGDP. The situation will become worst when the reverse brain drain and forced expulsion from Middle East intensifies. Here the role of active private participation emerged as a viable model for a balanced growth. The super tax and CSR provisions in the Companies Bill righty point out this concern. While encapsulating a participatory approach and Public Private Participation is a need of this hour, to ensure “inclusive and sustainable growth”, as envisaged in the 11^th and 12^th Planning year.

Paul V Mathew