TMS Ep95: CSR, growing inequality, Vaibhav Sanghavi, Surcharge & Cess

The CII on Monday asked the government to consider increasing the corporate social responsibility (CSR) levy by one percentage point, from the existing 2%, for one year. The industry body said that the money should be utilized to give boosters shots. But is India’s private sector loosening its purse strings for social causes? In the financial year 2021, the CSR contribution dipped drastically by 64% year-on-year to Rs 8,828 crore. While it may be called an aberration due to the pandemic, are all the companies meeting their CSR commitment? 

Pandemic spared none. Be it the corporates and ultra-high net worth individuals or those at the bottom of the wealth pyramid. A recent survey conducted by a Mumbai-based think-tank claimed that the annual income of the poorest 20% of Indian households dropped by 53% in 2020-21 from their levels in 2015-16. Income of that section was constantly on the rise since 1995. In contrast, the annual household income of the richest 20% grew by 39% during the same period. Let's delve into the reasons behind it, and explores what the government can do to alleviate poverty and boost demand.  

With barely a few days left for the Finance Minister to present the Union Budget for fiscal 2022-23, market experts hope that the government will take steps to keep the economic growth momentum without springing a negative surprise. Business Standard’s Puneet Wadhwa caught up with Vaibhav Sanghavi, Co-CEO, Avendus Capital Public Markets Alternate Strategies on what the street expects from the budget proposals and his views on how the US Fed policy is likely to impact emerging markets, including India

The government takes its cut from the profit you earned in the markets in form of taxes. But did you know that the government also charges tax on tax. They are called cess and surcharge. In the last budget, Union Finance Minister Nirmala Sitharaman had introduced a new cess on fuel, liquor and some other goods to improve agriculture infrastructure. All these and more in this episode of the podcast.

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