Assertion (A): The Government has made legislations on corporate social responsibility for effective community relations.
Reason (R): The corporate giants must do their bit for national development.
(A) Both (A) and (R) are true.
(B) Both (A) and (R) are true, but (R) is not the correct explanation of (A).
(C) (A) is true, but (R) is false.
(D) (A) is false, but (R) is true.
Correct Ans: (D)
Explanation:
Corporate Social Responsibility (CSR) is a crucial aspect of business ethics. It ensures that companies contribute to social, environmental, and economic development. Many corporate giants invest in education, healthcare, and sustainability projects to improve their public image and foster goodwill.
However, Assertion (A) is false. The government has not passed laws specifically for corporate social responsibility to enhance community relations. Instead, it has introduced mandatory CSR spending under the Companies Act, 2013, which requires large companies to allocate 2% of their profits to social initiatives. This rule is primarily about corporate accountability rather than community relations.
On the other hand, Reason (R) is true. Corporate giants have a moral and ethical responsibility to contribute to national development. Many businesses take CSR initiatives seriously and work on projects that benefit society. Their efforts support education, healthcare, environmental conservation, and rural development.
Since Assertion (A) is false but Reason (R) is true, the correct answer is (D). While businesses play a significant role in nation-building, CSR legislation is not solely focused on community relations. Instead, it is a broader framework for corporate accountability and ethical business practices.
