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The philosophy of philanthropy might be an old one in Indian society, but in the modern world, the concept has taken on several hues. Many companies today run social endeavours called Corporate Social Responsibility (CSR).
But has CSR reduced to a mere marketing activity these days? That’s the question one of the episodes of ‘The Dr. Subhash Chandra Show explores. Do companies use CSR just to be seen as doing good, or do they actually make an effort to make a difference’?
The Companies Act, 2013 states that it is mandatory for any corporation having a net worth of over Rs 500 crore, a turnover of over Rs 1,000 crore or a net profit of Rs five crore or more to spend at least 2% of its average net profits over the three years on CSR activities.
However, CSR should be more than just clicking a few ‘feel good’ pictures and uploading them on social media. “It is more important to become a good corporate citizen before you get into CSR activities,” Dr Chandra said.
There are several sectors in India, like education or health, where government intervention alone is not enough and hence CSR must be encouraged.
However, these initiatives must not be hypocritical. “CSR is hypocritical if it is not solving a real issue or problem which exists in society,” Dr Chandra said. Having adequate audit systems in place that monitor whether the money being allotted is being properly utilized is also important.
Watch This Episode:CSR has become Marketing Tool?
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