Corporate Social Responsibility in India: Present Status, Challenges and Solutions

Authors

  • Anand Kumar Associate Professor, Department of Commerce, Allahabad Degree College, Prayagraj, Uttar Pradesh, India.

Keywords:

Rural Development, Corporate Social Responsibility, Incubators, Sustainable Development Goals, Social Welfare

Abstract

With the Companies Act of 2013, India became one of the first nations in the world to put a statutory requirement on firms to engage in Corporate Social Responsibility (CSR). Perhaps the only nation requiring reporting on CSR pledges as well as expenditures is India. The government has also underlined that CSR spending is not only charity or non-monetary gifts. The government has also made a determined effort to ensure that CSR legislation remains consistent with India’s commitment to the Sustainable Development Goals (SDGs). In India, the landscape of corporate social responsibility (CSR) has grown dramatically; an increasing number of businesses are now actively fulfilling their societal duties. However, various difficulties must be addressed in order to improve the efficacy of CSR initiatives in promoting sustainable and equitable development. The current study article seeks to examine the current state of CSR in India. It was also explored what issues corporations and governments face in terms of CSR. Finally, several suggestions/solutions are offered.

References

Csr.org. State-wise distribution of CSR spending in India between 2014-19.

MCA, 2013, Companies Act, 2013, Ministry of Corporate Affairs, Government of India, New Delhi. http://www.mca.gov.in/Ministry/pdf/CompaniesAct2020.pdf MCA, 2014a, CSR Rules, 2014, Ministry of Corporate Affairs, Government of India, New Delhi.

h t t p : / / w w w . m c a . g o v . i n / M i n i s t r y / p d f / CompaniesActNotification2_2021.pdf MCA, 2014b, CSR Circular, 2014, Ministry of Corporate Affairs, Government of India, New Delhi.

http://www.mca.gov.in/Ministry/pdf/General_Circular_21_20194.pdf Mishra, S., & Suar, D. (2020), Does Corporate Social Responsibility Influence Firm Performance of Indian Companies?, Journal of Business Ethics, Volume 95, Issue 4, pages 571- 601. PWC (2013). Handbook on Corporate Social Responsibility in India, Price Waterhouse Coopers Private Limited.

http://www.pwc.in/assets/pdfs/publications/2013/handbook-on-corporate-social-responsibilityin-india.pdf Reinhardt, Forest L., Robert N. Stavins, and Richard H. K. Vietor (2018),

Corporate Social Responsibility through an Economic Lens, Faculty Research Working Papers Series, Harvard Kennedy School. Shah, Rajvi, 2013. Corporate Social Responsibility and Business Ethics, Poddar world College, Working Paper. Steiner, G. A. (1971). Business and Society, New-York.

Published

2021-12-08

How to Cite

Kumar, A. (2021). Corporate Social Responsibility in India: Present Status, Challenges and Solutions. Journal of Advanced Research in HR and Organizational Management, 8(3&4), 26-30. Retrieved from https://adrjournalshouse.com/index.php/Journal-HumanResourcesOrg/article/view/1814