CSR or Corporate Social Responsibility refers to business practices involving initiatives that benefit the society.
According to the Minister of Corporate Affairs, slum redevelopment will be treated as a CSR activity.
BJP’s election manifesto was to usher in a low-cost housing policy that would ensure every family in India a house by the year 2022 (75th year of Indian Independence). Hence the Pradhan Mantri Awas Yojana was launched in the year 2014.
Ministry of Corporate Affairs has clarified that slum redevelopment or housing for the Economically Weaker Sections (EWS) could be covered under eligible CSR category of “measures taken for reducing inequalities faced by socially and economically backward groups”.
Even if slum redevelopment qualifies as CSR activity, experts caution that a gray area would crop up if a slum area is taken up for construction of villas and the slum dwellers are rehabilitated by the builders. Hence, Housing For All (or HFA 2022) stipulates on the requirements of the scheme as in-situ slum redevelopment.