Question
Various activities can be undertaken by the corporates
under the CSR guidelines. Which of the following activities can be classified under the CSR activities in India? I. Rural development projects II. Spending on incubators funded by the Centre or state or any state-owned entity in the fields of science, technology and medicine III. Eradicating hunger, poverty, malnutrition Refer to the following information to answer the next 4 questions (Q9 to Q12) The Companies Act 2013 had introduced several new provisions which changed the face of Indian corporate business. One of such new provisions was the Corporate Social Responsibility (CSR). The concept of CSR rests on the ideology of give and take. Companies take resources in the form of raw materials, human resources etc. from the society. By performing the task of CSR activities, the companies are giving something back to the society. CSR is the integration of socially beneficial programs and practices into a corporation's business model and culture. India is one of the first countries in the world to make CSR mandatory for companies following an amendment to the Companies Act, 2013 in 2014. Under the Companies Act, businesses can invest their profits in areas such as promoting rural development in terms of healthcare, sanitation, education including skill development, environmental sustainability, etc.Solution
Corporate Social Responsibility (CSR) is the responsibility of the corporations operating within society to contribute towards economic, social and environmental development towards creating positive impact on society at large.
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