Which of the following is not the goal of Corporate Social Responsibility (CSR) ?

The correct answer is - To acquire benefits and tax concession from the Govt.

Key Points

• Corporate Social Responsibility (CSR) is a framework for businesses to voluntarily integrate social and environmental concerns into their operations.
• The primary goals of CSR include:
  • Ensuring environmental sustainability, such as reducing carbon footprints, waste management, and promoting renewable energy.
  • Promoting empowerment of women and marginalized communities through education, skill development, and employment opportunities.
  • Developing awareness about social issues, such as health, education, and poverty alleviation.
• However, acquiring benefits and tax concessions from the Government is not an ethical or primary goal of CSR. Such motives deviate from the altruistic purpose of CSR.

Additional Information

• Benefits of CSR
  • CSR enhances a company’s brand image and reputation among stakeholders.
  • It fosters customer loyalty by showcasing the company’s commitment to social and environmental causes.
  • CSR initiatives improve employee morale and retention by creating a sense of purpose within the organization.
• Legal Mandates in India
  • Under Section 135 of the Companies Act, 2013, companies meeting specific criteria are required to spend at least 2% of their average net profits on CSR activities.
  • Eligible activities are listed in Schedule VII of the Act, including areas like education, health, gender equality, and environmental sustainability.
• Misuse of CSR
  • Some companies may attempt to exploit CSR for financial or tax benefits, which undermines its ethical foundation.
  • Regulatory bodies monitor CSR activities to ensure compliance with the intended objectives.