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GANDHIAN CONCEPT OF TRUSTEESHIP NAME :- RAJANI HARSULKAR SHILPA SRIVASTVA PRATIKSHA CHANDAK RADHIKA BAJAJ ANJALI SALUJA DEEPA JAMDADE

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GANDHIANCONCEPT OF TRUSTEESHIP

NAME :-RAJANI HARSULKAR SHILPA SRIVASTVAPRATIKSHA CHANDAKRADHIKA BAJAJ ANJALI SALUJADEEPA JAMDADE

CONTENTS

INTRODUCTION OF TRUSTEESHIPSEVEN SINSPRINCIPLE OF TRUSTEESHIPLIMITATIONFEATURE CONCEPT AND QOTETION

Trusteeshipis a socio-economic philosophy that was propounded byMahatma Gandhi. It provides a means by which the wealthy people would be the trustees of trusts that looked after the welfare of the people in general. This concept was condemned by socialists as being in favor of the landlords, feudal princes and the capitalists, opposed to socialist theories.Trusteeship

Trusteeship essentially means having faith and confidence in a process of taking responsibility for assets and social values, and administering their rightful and creative usage for the benefit of others-now, and in coming generations.

Trusteeship of Gandhiji"Supposing I have come by a fair amount of wealth either by way of legacy, or by means of trade and industry I must know that all that wealth does not belong to me; what belongs to me is the right to an honorable livelihood, no better than that enjoyed by millions of others. The rest of my wealth belongs to the community and must be used for the welfare of the community."

Trusteeship of GandhijiIn the first instance, everything must be surrendered to God and then out of it one may use only that which is necessary for the service of God's creation, according to one's strict needs.

When an individual had more than his respective portion, he became a trustee of that portion for God's people.

Gandhi suggested this doctrine as an answer to the economic inequalities a kind of nonviolent way of resolving all social and economic conflicts.

The Trustees

Typical types of organizations with trustee boards include

Nonprofit organizations Civic organizations Hospitals MuseumsEducational institutions.

Dharma or ethical & moral values contrasted by seven sins:

Wealth without workPleasure without conscienceKnowledge without characterBusiness without Ethics or Commerce without MoralityScience without humanityWorship without sacrificePolitics without principle

Gandhian Principle of TrusteeshipThe Gandhian Principle of Trusteeship is closely related to the Social Responsibility of Business. According to the Gandhian Concept of Trusteeship All business firms must work like a trust.All assets of the firm must be held by a trust and must be used for the welfare of the social .The firm must keep only a small part of its profits for the honorable livelihood of its owners .The remaining part of the profit must be distributed equitably to all sections of society

Reduce Inequalities: This concept tries to reduce inequalities. It tries to reduce the gap between the rich and poor.It tries to reduce exploitation.Change of Attitude of Businessmen: According to Mahatma Gandhi, businessmen should change their attitude. They have no morale right to accumulate unlimited wealth while most of their countrymen live in poverty and misery. Each businessman should take enough wealth to live honorably. He should distribute the remaining wealth back to the society. Gandhiji advised the rich businessmen to voluntarily surrender their surplus wealth. If not done so, the poor masses may revolt (fight) one day and plunder their entire wealth by force.Principles of Trusteeship

Social Pressure: People must put social pressure on businessmen to follow the principle of trusteeship. They should boycott (not purchase) the products of those who do not practice trusteeship.Legal Pressure: If voluntary measures and social pressure do not work, legal pressure must be put on the businessmen to follow the principle of trusteeshipSocialism: This concept gives more importance to socialism. That is, the society is given much more importance than an individual. So, the wealth of the society should be distributed equitably to all its members.

Consider Social Needs: Businessmen should produce only those goods and services which are useful for all members of the society. They should not produce goods and services, which are used only by few individuals

Equal distribution of wealth: According to Gandhiji, all the wealth of the society should be distributed equitably. There should not be concentration of wealth in few hands.

Earn money by Hard work: A person should earn his living by doing hard work. Earning money without doing hard work is just like stealing

No Right to Private Ownership: This concept does not give the right to private ownership except when it is necessary.

Government Regulation: The Government should regulate trusteeship. No Individual should be allowed to use his wealth for selfish satisfaction or against the interest of society.

Limitations of Principles of Trusteeship

This concept is not relevant in today's competitive business world because every businessman tries to earn maximum profits and accumulate huge wealthIt demotivates the hardworking businessmen. The businessmen will loss their creativity, and they will become lazy. This will slow down the economic development of the countryThis concept is based on the concept of Socialism. However, today socialism is outdated

Businessmen feel that the welfare of the society is not their responsibility. It is the responsibility of the Government.

This concept is not accepted by shareholders who invest their money to earn the highest dividend.

This concept is against capitalism. Today, capitalism is proving very successful all over the world. Poverty levels are very low in capitalist countries when compared to the poverty statistics of socialist nations.

FEATURETrusteeship; a hammer for capitalism: Trusteeship aimed at reforming the capitalist society. It advocated that rich people should change themselves and should come forward to use their property for the betterment of society.State regulation of trusteeship: The State should come forward to regulate the system. In that case there would be no discrimination. The wealth or the rich will be appropriated by the State and regulated by the order of the State. It will be done in the most peaceful way so that violence will not occur.

No use of wealth for self-satisfaction: Under trusteeship, any rich man can use his extra wealth for his satisfaction. He also cannot use the wealth for promoting anti-social activities. The State should guide the rich how to utilize the wealth for the benefit of the State.No private ownership: The wealth should not be won by any private fellow. It can only be done by the consent of the people in the society at large. Further, social welfare must form a part of this programme which the State or the people in the society will direct.

Fixed maximum income: Under this system, a maximum income will be fixed by the State. A fair wage should be fixed for the working class people. The State should see that there exists a reasonable balance between the maximum income and minimum living wage.Social welfare: The trusteeship system should aim at social welfare. Under no circumstance, the welfare of the society will be hampered. The rich people should come voluntarily to join their hands with the common people and decide measures for the welfare of the society by the appropriation of the extra wealth possessed by the rich people

Production as per social requirements: The production should cater to the need of the society. No personal choice of the rich should guide the production pattern. On the other hand, keeping in view the necessity of the large bulk of Indian population, things will be manufactured.

Mahatma Gandhi's Concepts and QuotationsMahatma Gandhi was influenced byAncient Indian Philosophyand teachings of holyBhagavad Gita.Gandhiji gave importance to following two concept:Aparigrahai.e. Non-PossessionSambhawai.e. Equitable Distribution.Gandhiji also gave importance to following two quotations:"Enjoy the wealth by renouncing it."Excel in your work, produce wealth, take the minimum which you need, leave the rest to the welfare of the community.

Few richest men in the world, especially, Bill Gates and Warren Buffet are practicing the Gandhian Principle of Trusteeship. These noble philanthropists are distributing a huge percentage of their wealth for social causes like public health improvement, funding AIDS research and higher education, running programmes for poverty alleviation, etc. Their willingness to solve community's problems as a moral responsibility is quite remarkable and deserves admiration

THANK YOU .