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Contrary to the corporate world's general disapproval of government's welfare spending, Ratan Tata, chairman emeritus - Tata group, on Friday said food and nutrition should be fully subsidised to the underprivileged sections of society.
He also insisted on ensuring delivery of these subsidies fully to all the poor people by stopping criminal elements from misutilisation.
Tata participated in an interactive session along with GMR group chairman GM Rao here today at the launch of an online portal 'The Indian Impact'. The portal, an initiative by Wharton Business School alumni, is aimed at highlighting the deficiencies in government's Anganwadi centres for corporations and philanthropists to address them.
He said the country was going to suffer if children's very existence was condemned because of malnutrition. The government has to address not just the issue of hunger but also lack of nutrition and here the corporate houses should work shoulder to shoulder with the government, according to Tata.
"It is not just a rural problem. Basically, it is a financial problem. Corporates need to do more and give back to society," he said citing the example of the Tata Group, which spends 4 per cent of its net profit on philanthropy and on improving the quality of life.
On what drives him in business and charity, Ratan Tata said it was his optimism and the belief that India can be a real economic power. "In the last 12 months there were some doubts. But India has tremendous potential. New generation will build newer and more prosperous country. My only regret is that I am not 20 years younger (to see it happening)," Tata said.
GMR group chairman said no multinational company would survive without having a footprint in India as the country is a knowledge-driven society. He termed Ratan Tata as his role model while explaining the initiatives undertaken by his foundation in areas of addressing malnutrition and training teachers.
Ratan Tata said the issue of malnourishment among children needed not just sympathy but also a solid action from all citizens.
Despite government's good intentions, things may often fall short of expectations, he said, adding the media should look into these reasons instead of just focusing on some scandals.
