Upliftment of indian sports through corporate social responsibility

A UN report on The International Year of Sport and Physical Education (IYSPE 2005) has highlighted the importance of Sports to the Society and wellbeing of Humans. “Sport and physical education play a vital role at all levels of society. On the national level, sport and physical education contribute to economic and social growth of the nation.”

Indian sports except cricket, scenario is distressing in all other games The government can get large financial resources from large profitable corporates through corporate social responsibility policy. Under the new Companies Act 2013, it is mandatory for certain class of companies operating in India, including branches and project offices of foreign companies to spend at least, 2 per cent of their three-year average annual net profit towards corporate social responsibility (CSR) activities. As per the Schedule VII of the Companies Act, 2013, a list of CSR activities includes training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic sport. Amendments in the CSR activities 2015, the construction, renovation, maintenance of stadiums, gymnasiums and rehabilitation centers have become part of the permissible CSR activities. The objective of this paper is to identify whether corporates through their CSR help uplift Indian sports to a competitive global level or not.