Corporate Social Responsibility & Sustainable Development

Abstract

The idea of Corporate Social Responsibility otherwise called “CSR”, in India has been followed since ages, though not with the usage of such term . In India the association of the corporate with society is restricted to a few settled family organizations but it is generally viewed as a nation in which corporate social obligation assumes an important role in development. This article focuses on various aspects of Corporate Social Responsibility and role of corporates and government to deal with growing societal needs. The paper analyzes the new law on corporate social responsibility and brings out challenges in its implementation. The concept of corporate social responsibility is in continuity with sustainable development and modernization. Socially reasonable organizations expand the human capital of individual and also promote the social development. There are wide range of routes through which concept of Sustainable development can be understood, yet its main approach is to minimize the gap between upper class and lower class. The paper shall delve into the idea that environment and social security are not the responsibility of government alone. They can be successfully achieved by participation from the corporate world. The paper is an attempt to highlight the importance of Corporate Social Responsibility so that it ensures greater participation of entrepreneurs in protecting the eco-system of the country. It shall lead to enhancement in quality of life as well as overall developmental in the country. The study will also elucidate the contribution of CSR toward achieving the goal of sustainable development in India.