1Research Scholar in Department of Economics & Finanace at BITS-Pilani, Pilani Campus. E-mail: jyotanwar@gmail.com
2Head of Department of Economics and Finance at BITS-Pilani, Pilani campus. E-mail: akvaish@pilani.bits-pilani.ac.in
3Professor in department of Economics & Finance at BITS-Pilani, Pilani campus. E-mail: nvmrao@pilani.bits-pilani.ac.in
Long back in our history, Kautilya's ‘Arthashatra’ talked about merchants doing trade and showing their responsibility towards social development. So it can be said that ‘Corporate Social Responsibility’ (CSR) is not a new term. But yes, it has been legalized a few years back to make it mandatory for companies to plough back a minimum of 2 percent of their net profit on the upliftment of society. Companies Act 2013, through section 135, introduced CSR and laid down several rules to be followed by corporates. CSR has gained popularity among corporates as they have realized that their ultimate goal is not only to earn profits but also build trust among their stakeholders. This paper tries to analyze the status of CSR in India and its popularity among corporates and society. It also highlights the challenges faced by corporates in giving their 100 percent towards society. A major concentration of this paper is on how CSR contributes to the inclusive growth of our country in the short run and long run. The study is based on secondary data and presents a comprehensive review of literature in a descriptive manner. Data has been collected from various journals, company websites, government sites and blogs.
Corporate social responsibility, Inclusive growth, Poverty eradication, Environment and social welfare
