Corporate Social Responsibility in India now an obligation
Abstract :
Corporate Social Responsibility (CSR)
has gained considerable interest among academicians and business organizations
in the past decade. Corporate social responsibility has become an inevitable
priority for business leaders across the globe in recent times. More and more Indian business organizations
embrace the practice of CSR under different names such as corporate
sustainability, social responsibility, and corporate citizenship. Corporate
Social Responsibility is a management concept whereby companies integrate
social and environmental concerns in their business operations and interactions
with their stakeholders (United Nations Industrial Development Organization).
Now CSR has become an obligation for corporates in India as per the new
Companies Act, 2013.
Present
paper will discuss the background of CSR at world and India level alongwith
Corporate Governance and its relationship with CSR. It will highlight the
provisions of new Companies Act regarding corporate social responsibility and
critically evaluate the same.
Keywords: -Corporate
Social Responsibility, CSR Practices, CSR Laws across the Globe, India,
Obligation, etc.