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1A tax driven system is not merely aimed at raising a certain
amount of revenue, but the main aim is to raise it from those
sections of the people who can best bear the tax. Refer
“Modern Economic Theory” by K.K.Dewett, Chapter 64,
pp.564.
2Tax rates in India are quiet high implies that the existing
corporate taxation rate of India at 33.22% is higher than that
of may countries across the globe. For example, Bulgaria-
10%, Ireland-12.5%, Romania-16%, Germany-29.4%, Iran-
25%, Saudi Arabia-20%, Kuwait-15%, Canada-28.3%,
Israel-24%, Newzealand-28% etc.
3Not too willing to be transparent is mentioned in the context
of membership of (GRI) The Global Reporting Initiative is a
non profit organisation that promotes economic,
environmental and social sustainability. It provides all
companies and organisations with a comprehensive
sustainability reporting framework that is widely used
around the world. Very few companies from India have
registered with GRI.
4Sachar committee on Companies and MRTP Acts 1977 was
a committee constituted by the Government in terms of the
Ministry of Law, Justice & Company affairs to consider and
report on what changes are necessary in the Companies
Act'1956.
5Competitive disadvantage is to be seen in the light of the
globalized world. In a society where companies earn high
profits by virtue of lower costs, competitive disadvantage
would be an attribute of the company's operations which may
forfeit customers to a competitor.
6Davos World Economic Forum is the flagship event of the
world economic forum foundation, held every year in the end
of January, in Davos, where CEO's of 1000 member
companies, selected politicians, academicians, NGO's,
religious leaders and media, meet to discuss on key issues of
global concern.
7Karmayog is the largest Indian platform of concerned
citizens for civic and social issues. Since the last four years,
annual CSR study and ratings of 500 largest Indian
companies has been done by Karmyog.
8Peripheral as described by Francis Cherunilam in his book
“Business Environment” published by Himalaya Publishing
House, 14th edition, peripheral companies are those business
organisations who have very less social orientation, often for
name sake.
9Green-washing is the unjustified appropriation of
environmental virtue by a company, an industry, a
Government, or a politician to create a pro-environmental
image to sell a product of a policy or concept.
7
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