The Corporate Social Responsibility is meant to promote a feeling of giving back to the society in which a business thrives. Section 135 of the Indian Companies Act prescribes a mandatory CSR spend of 2% of average net profits of a company. However, the CSR has turned into a Brand Endorsement activity rather than societal development project. Corporates in India spend more on the advertising the CSR initiative than on the CSR activity. Mr. Sujit Nair, Managing Editor of HW News Network and Mr. Akhilesh Bhargava, Business Editor of HW News Network share their insights and take on the matter.
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