Abstract
This article is an endeavor to identify the impact of corona virus on CSR practices followed by the Indian companies and how this pandemic opens a new and innovative way of improving the CSR practices followed by the different companies. Every coin has two aspects and therefore we are in strong proposition that Covid-19 crisis along with its adverse and serious damages, also creates a opportunity for the business units to shift their traditional CSR practices towards the more genuine and authentic ways for serving the humanity in a more better and improved way. In our discussion, we outline, that how the earnings of business units are affected and how they are improving their ways of addressing the CSR practices and helping the government in the war against this virus. We end the paper with a identifying a number of potentially fruitful contributions made by the different units and celebrities of our country for fighting against this deadly virus.
Highlights
The voluntary fulfillment and compliance of ecological and social responsibility of companies is known as its Corporate Social Responsibility (CSR) and it is widely used term in era of current business environment
The company is required to utilize atleast 2 per cent of the average net income earned during the preceding financial years towards fulfilling the activities involving customers, suppliers, employees, business partners, investors and shareholders dealing with corporate social responsibility
The present paper focuses on corporate social responsibility (CSR) trends and opportunities to combat Covid-19
Summary
The voluntary fulfillment and compliance of ecological and social responsibility of companies is known as its Corporate Social Responsibility (CSR) and it is widely used term in era of current business environment. Problem Statement “Corporate social responsibility”, is a widely and relentlessly adopted concept since its inception, and it has attracted a global and mass attention in increasingly incorporated world economy Even though it is not a present-day concept, corporate social responsibility (CSR) has been developed into a global norm and many global and international companies are following this noble concept for the upliftment of deprived sections of the society. On March 23, 2020, It was announce by the Ministry of Corporate Affairs that all the expenditures related to covid like support of health equipments, beds, masks, sanitizers, food will be added as the permissible transactions for CSR expenditure After this announcement, many big giants of Indian economy contributed a lot to the PM CARES fund as shown table below: Contributor Gautam Adani. Utilized for testing purposes, ventilators, health equipments, food and arrangement of 100 beds in Narayana hospital
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