The profiteering corporate culture has shown little responsibility towards society. During the past many years, the corporate has only been pressurising the Government to yield to its demand for giving more and more. As for itself, it has given little in return. The CSR – corporate social – responsibility has honestly not helped society, rather has increased their profits through setting up so-called foundations.
Down the years, corporate bodies have not shown genuine concern to uplift the condition of the people. Their exercise during the so-called slowdown, which apparently as per their phenomenal profit figures, did not hit them, helped them earn bounties. Not a paisa was transferred to the people but they got Government incentives (subsidies) of over Rs 1.5 lakh crore at the least during the past five years.
They cartelised and went on increasing prices of all commodities. Now with the onset of change in the political and economic climate they are neither prepared to help the Government nor the people by reducing prices. The car companies despite fall in many input costs do not reduce ex-factory prices, which could automatically reduce taxes. They thrive on excise duty cuts and rue when it is withdrawn.
The CSR proposals of all their organisations are apparently aimed at having further incentives through tax and interest cuts – each of it levies direct burden on the common man. He pays higher taxes both direct and indirect and higher prices and toll.