Source of Financial Resources for Railways Improvement
As per Companies Act 2013, many corporates (private and public) are mandatorily required to spend a portion of their profit for social welfare as part of Corporate Social Responsibility (CSR). I would suggest to make use of this law as below:
1. Amend the Companies Act CSR rules to allow contribution to railway corpus fund which in turn would be used for improvement of railways as CSR activity.
2. Amend the Companies Act CSR rules to allow corporates (singly or jointly) to own the maintenances of railway stations and other railway properties as part of CSR activities.
3. Amend Companies Act CSR rules to allow R&D programs by corporates for railway infrastructures.
4. Amend the Companies Act CSR provisions to have mandatory audits of CSR activities by professional chartered accountants in order to ensure the right amount of funds spent as per point 1-3 as specified above and other CSR activities.
I personally feel this would go a long way in improvement of railways that too at a time when railways are starved with funds.
I trust these suggestions are well taken and any comments on these suggestions are welcome.
Thanks & Regards,
CA. Amith Khadloya more
1. Amend the Companies Act CSR rules to allow contribution to railway corpus fund which in turn would be used for improvement of railways as CSR activity.
2. Amend the Companies Act CSR rules to allow corporates (singly or jointly) to own the maintenances of railway stations and other railway properties as part of CSR activities.
3. Amend Companies Act CSR rules to allow R&D programs by corporates for railway infrastructures.
4. Amend the Companies Act CSR provisions to have mandatory audits of CSR activities by professional chartered accountants in order to ensure the right amount of funds spent as per point 1-3 as specified above and other CSR activities.
I personally feel this would go a long way in improvement of railways that too at a time when railways are starved with funds.
I trust these suggestions are well taken and any comments on these suggestions are welcome.
Thanks & Regards,
CA. Amith Khadloya more
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Stations should be leased for advertising rights to reputed advertising firms. The agency which will be awarded the advertising rights for a stations, should be made responsible for cleanliness, general up keep and paint work at the station. The agency in turn will sub-let the space for commercial advertising to various corporations. This will ensure cleanliness and good environment at the station and earn revenue for Railways. This policy has been successfully implemented at airports world over and has contributed to commercial revenue. more
Jul 20
It is a good sugesstion as Railways are already burdened with plenty of social obligations. more
Jul 17
Good suggestion.corporates really don't spend the CSR kitty in a very useful way.So what Amit suggests especially relating to adopting the maintenance of Railway stations. more
Jul 16
The proposed amendments are not a mere fulfillment of CSR but are more practical as they are voiced from a professional. more
Jul 16
