Corporate Social Responsibility In India: An Overview

Corporate Social Responsibility ("CSR") is the commitment promised by businesses and organisations to integrate social, political, and environmental concerns in their business operations vide monetary support etc. It is imperative for businesses to note the changes which take place in the global environment and to look beyond the financial sphere of the market and participate to address and help the social and environmental concerns that are co-existing alongside themselves. The Companies Act, 2013 ("CoA") had introduced the concept of CSR and made it a mandatory feature for businesses in India. Before the CoA amendment which gave legal stature to CSR, it was traditionally seen as a philanthropic activity wherein it was believed that every company has a moral responsibility to play an active role for addressing their social obligations, subject to the financial health of the Companies.