Like we have by law mandated some social responsibility(CSR), can we also mandate Corporate Economic Responsibility (CER) on Indian corporates? For instance in our present economic scenario when the rupee is having a free fall in a bottomless well, can they be asked to help the government by raising dollars using their foreign assets and investments and lending them to government against tax concessions when the economy recovers? As the India Inc appears to stand off leaving the government to address the crisis and is not coming forward with any suggestions and help, it needs to be mandated to show some patriotism and economic responsibility. After all, every corporate has used government financial institutions and government patronage to do business and prosper and it is only legitimate to expect their cooperation which as has not been volunteered yet, has perhaps to be coerced through law!
