Can CSR Alleviate Poverty?

Abstract

Big Global corporations have become influential in the last five decades. Governments used promote development for economic activities with Rich nations offering foreign aid to poor nations. Development is constrained due to high economic poverty, hunger, high mortality rates, unsafe water supplies, poor education systems, corrupt governments, war, and poor sanitation. No development is real unless it addresses the poverty as Hunger and Poverty continues to be the world’s most fundamental and urgent issues.

Wealth creation is the key to poverty alleviation. Business must have clear goals and practical targets to be in its best. CSR is an increasingly important part of the business environment and a crucial bridge between organizations and society. CSR is propelled into the limelight in recent years. The development impact of the CSR strategies is complex as it demands for increased transparency, accountability and responsibility. Accountability is a core-element of governance as is equity, transparency, participation and adherence to the rule of law. Bureaucratic and political accountability need to be improved for making effective and efficient use of the nation’s resources.

Keywords: CSR, Development, Poverty Alleviation, Business, India