Question

State whether the following statement is true or false. Correct the incorrect Statement.

Corporate social responsibility is compulsory for every industrialist.

Options

• True

• False

Answer 1

This statement is True.

Explanation:

Yes, the corporate social responsibility is essential for the industrial unit. The law ensures 2% of the profit of the industrial unit must be contributed to society as a social responsibility. The industrial unit must ensure social responsibility in the society for the peaceful development of industries.