Emerging Issues in CSR

Abstract

There are some business responsibilities towards the society ,it is very difficult to measure such obligations in monetary terms business also consists along with the profit earning , doing many socially useful activities .One of the  revolutionary provisions is that from 1 April 1989 Govt. has compelled to represent detail about energy conservation, technique and foreign exchange. According to a survey report represented by ICAI in 1981, 123 companies out of 202 have reported about their social duties. According to a survey report published in 1989, Peshwal Sharma told that 90% public companies, and 35% private companies have started to use social responsibility in their reporting, 45% of the companies have adopted descriptive methods. August 29, 2013 was a red - letter day in the field of Indian corporation have when the companies Act 2013 was enacted with the aim of improving and simplifying corporate governance norms and legislate the role of whistle blower .One of the revolutionary provisions is that of mandating corporate social responsibility (CSR) activities in India. This would ensure that right steps are taken by companies in pursuance of the CSR provisions of the act. This paper shall discuss the evaluation of the concept of corporate social responsibility and how important this is for the economy and society. Alike the pros and cons of mandating CSR. The paper will throws light  on several example where big corporations were already involved in the rules issued by the government would be discussed in detail and the paper would offer suggestion as to how these inadequacies be countered effectively so that the law is followed in its true and spirit.