The COVID-19 pandemic has had a devastating impact on communities across India as it disrupted the socio-economic landscape of the country. It also wiped out several years of developmental gains made in the last decade with respect to the 2030 Sustainable Development Goals.
According to Edelman’s Annual Trust Barometer, 78% of Indians sampled (global average at 62%) believe that inequities have worsened and those with less education, money, and fewer resources have been disproportionately burdened as a consequence of the pandemic. The definition of corporate social responsibility (CSR) has to evolve and the role of corporate philanthropy must assume greater importance.
In India, the law mandates that businesses with a turnover of more than Rs 1,000 crore, net worth of Rs 500 crores, net profit of Rs 5 crore or more, must spend at least 2% of the average net profits earned during three preceding financial years to CSR activities. This calculation based on India’s pr …
