Corporate social responsibility: A critical appraisal

Abstract

India is the first Country in the world to make Corporate Social Responsibility (CSR) mandatory, the New Companies Act 2013 in April 2014. Businesses can invest their profits in areas such as education, poverty, gender equality and hunger as part of any CSR compliance. The objects on which there can be charitable spending are specified in a schedule, the purpose being to assure that charity is directed to good social causes. For this purpose, a Corporate Social Responsibility Commitee has to be constituted. CSR is similar to Mahatma Gandhi's trusteeship principle. CSR has played an important and Influential role in corona and disaster relief work. There are also some problems regarding CSR In India such as lack of transparency, political interference, non-reach of help to the weak and backward classes, lack of right participation, and non-availability of well-organized NGOs, etc. All these need to be taken care of by the company and the gonernment transparency can be made more affective by seeing the importance of ensuring the role.