Journal of Business Law and Ethics

Corporate Social Responsibility: An Indian Perspective
Premlata, Anshika Agarwal

Abstract
Corporate Social Responsibility is now accepted as a means to achieve sustainable development of an organization. Hence, it needs to be accepted as an organizational objective. According to New Company Law, 2012 corporates must contribute 2% of their net profits towards CSR which made Indian companies to consciously work towards CSR, as it required a prescribed class of companies to spend a portion of their profits on CSR activities. Any contribution towards welfare of society is called as . Corporates can no longer limit themselves in using resources of society and they have to be socially responsible corporate citizens and must also contribute to the social good. The main aim behind this study is to see why CSR is vital for Corporation? Why should they contribute for Country's Economic Development? and What are the Important steps Government should take to improve contribution of corporate for CSR activities? As we know, today Indian corporates go beyond Philanthropy (Charity) concept and its more concentrate on all the stakeholder. The present research paper attempts to analyse several such aspects of the new CSR law in the context of modern corporate philosophy and also drawing attention of the government authorities towards practical difficulties in the implementation of the new provisions.

Full Text: PDF