A New Paradigm of Corporate Social Responsibility in India: An Evaluative Study

Abstract

Corporate Social Responsibility or CSR has provided a new meaning and impression in today’s corporate world. It has extended and enlarged the boundaries of the firm into the society. CSR is the continuous commitment by various corporations towards the economic and social development of communities in which they operate. In India companies like Birla, TATA, ONGC etc. are practicing Corporate Social Responsibility (CSR) since many decades, long before the term ‘CSR’ become a popular basis. Though there is no single universally accepted definition of CSR, it simply means- business decision making- linked to ethical values, legal compliance, respect for people, community, and environment etc. Over the period, CSR has gained more and more importance in contributing towards the societal interest and benefit. This article focuses on the findings & reviewing of the various issues and challenges faced by CSR activities in our country and it is also trying to elaborate the development of CSR in India along with discussing the recent Amendment to the Companies Act, 2013.