Corporates and the private sector organisations could offer shares to the disadvantaged sections of society like the SC/STs, minorities and BCs as part of their Corporate Social Responsibility (CSR), suggested Indian Council of Social Science Research chairman Prof. Sukhadeo Thorat here on Monday.
“Twenty per cent of the mandatory two per cent for CSR activities can be utilised to empower them. This is being done in countries like Malaysia where the indigenous Malays are provided with shareholding in firms’ up to 30 per cent over a 20 year period,” he explained.
Arguing for “some kind of affirmative action” by the private sector, he said even developed nations had taken steps to help the disadvantaged sections.
Meanwhile, the Government should have “social protection policies” and promote entrepreneurship by giving them access to credit, capital and easy licensing policies, he said.
Prof. Thorat was answering questions after delivering a lecture on ‘Inclusive Growth’ jointly organised by the Institute of Public Enterprise (IPE) and the Federation of Telangana and Andhra Pradesh Chambers of Commerce & Industry (FTAPCCI) here on Monday.
Pointing out the employment ratios of the disadvantaged sections is very low (SCs - 13%), he charged campus recruitments, job portals and private employment agencies are not at all “socially equitable” forums as these come from a “limited pool” and not through an “open advertisement”.
