CSR an Indian Perspective: A Review

Abstract

Corporate social responsibility is not a new subject now in India. With regard to corporate social responsibility India has secured a prominent place in the world corporate ladder. This article looks to critically understand the nature of corporate social responsibility in India. Corporate social responsibility practices in India sets a pragmatic level of grassroots growth through coalition and partnerships with sustainable progress approaches. In spite of a real awakening, lack of understanding, inadequately trained personnel, non availability of specific and authentic data and lack of information on the type of corporate social responsibility activities have acted as barriers to know the effectiveness of corporate social responsibility activities in India. The new proposed company bill that is yet to be passed has these new measures incorporated into it. This has removed the weakness that the old companies act of 1956 in the area of corporate social responsibility activities. All over in western corporate sectors, corporate social responsibility has a new meaning. Should the companies follow corporate social responsibility and spend compulsorily is a policy decision that is to be determined by the government. These decisions should be made by keeping national interests, social welfare as prime criteria.