Empowering Societal Growth: The Impact of CSR and Loss Bit Processes

Abstract

Every three years, all companies allocate 2% of their profits to CSR (Corporate Social Responsibility). The paper emphasizes the societal impact of companies, providing employment crucial for averting poverty. Companies contribute to government revenue through taxes, vital for economic stability. In 2018-2019, companies paid INR 12 lakh crores in taxes to the Indian government. Their cost-efficient product production directly impacts societal livelihood. Essentially, the absence of companies poses risks to jobs, work, and overall societal well-being.