Corporate Social Responsibility, Growing Inequality, Vaibhav Sanghavi, Surcharge and Cess
Corporate Social Responsibility – The CII asked the government on Monday to consider raising the corporate social responsibility (CSR) fee by one percentage point for a year, from the current 2%. The money should be used to administer booster shots, according to the industry group. Is India’s private sector, on the other hand, willing to open its purse strings for social causes? The CSR donation for the financial year 2021 was Rs 8,828 crore, down 64 percent from the previous year. Is every company following its CSR obligation, despite the fact that it may be considered an exception due to the pandemic?
No one was spared by the pandemic. Corporates and ultra-high net worth individuals, as well as people at the bottom of the wealth pyramid, are all affected. According to a recent survey performed by a Mumbai-based think group, the annual income of the lowest 20% of Indian households will plummet by 53% in 2020-21 compared to 2015-16. Since 1995, that section’s income has been steadily increasing. The annual household income of the top 20%, on the other hand, increased by 39% during the same time period. Let’s look at the causes for this, as well as what the government can do to reduce poverty and increase demand.
With only a few days until the Finance Minister presents the Union Budget for the fiscal year 2022-23, market analysts are hoping that the government will take steps to maintain economic growth momentum while avoiding a negative surprise. Vaibhav Sanghavi, Co-CEO, Avendus Capital Public Markets Alternate Strategies, spoke with Business Standard’s Puneet Wadhwa on what the street expects from the budget ideas and how the US Fed policy is likely to affect emerging markets, particularly India.
Corporate Social Responsibility
Taxes are deducted from the profit you made in the markets by the government. Did you realize, though, that the government imposes a tax on tax? Cess and surcharge are the terms for them. Union Finance Minister Nirmala Sitharaman put a new cess on petrol, liquor, and a few other items in the last budget to help strengthen agriculture infrastructure. This episode of the podcast covers all of these topics and more.
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