From Philanthropy to Mandatory CSR: A Journey Towards Mandatory Corporate Social Responsibility in India

International Journal of Business and Management Invention, ISSN (Online): 2319-8028, ISSN (Print): 2319-801X, Volume 3 Issue 8, August 2014

8 Pages Posted: 11 Dec 2014 Last revised: 13 Dec 2014

See all articles by Anupam Singh

Anupam Singh

Shri Vaishnav Vidyapeeth Vishwavidyalaya, Indore

Priyanka Verma

Motilal Nehru National Institute of Technology (MNNIT)

Date Written: August 30, 2014

Abstract

India is a country of myriad contradictions. On the one hand, it has grown to be one of the largest economies in the world, and an increasingly important player in the emerging global order, on the other hand, it is still home to the largest number of people living in absolute poverty (even if the proportion of poor people has decreased) and the largest number of undernourished children. What emerges is a picture of uneven distribution of the benefits of growth which many believe, is the root cause of social unrest. Companies too have been the target of those perturbed by this uneven development and as a result, their contributions to society are under severe scrutiny. With increasing awareness of this gap between the haves and the have-nots, this scrutiny will only increase over time and societal expectations will be on the rise. Many companies have been quick to sense this development, and have responded proactively while others have done so only when pushed. This paper attempts to present the picture of transformation of corporate social responsibility (CSR) from philanthropy to mandatory corporate social responsibility (MCSR) in India. It aims also at analyzing that why CSR spending must be regulatory in the country like India.

Keywords: Philanthropy, CSR, MCSR, Company Act 2013, India

Suggested Citation

Singh, Anupam and Verma, Priyanka, From Philanthropy to Mandatory CSR: A Journey Towards Mandatory Corporate Social Responsibility in India (August 30, 2014). International Journal of Business and Management Invention, ISSN (Online): 2319-8028, ISSN (Print): 2319-801X, Volume 3 Issue 8, August 2014. Available at SSRN: https://ssrn.com/abstract=2532824

Anupam Singh (Contact Author)

Shri Vaishnav Vidyapeeth Vishwavidyalaya, Indore ( email )

Gram Barolo
Indore, Madhya Pradesh 452009
India

Priyanka Verma

Motilal Nehru National Institute of Technology (MNNIT) ( email )

Link Road Number 3
Near Kali Mata Mandir
Bhopal, IN Madhya Pradesh 452010
India

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