A study on corporate social responsibility in India

Social Responsibility has its roots in Indian context. Corporate Social Responsibility (CSR) is a term describing a company's obligation to be accountable to all of its stakeholders in all its operations and activities. The Companies Act, 1956 is replaced with The Companies Act, 2013 and ‘Corporate Social Responsibility’ (CSR) has been made mandatory for a particular class of companies. There has to be an allinclusive growth of the society with the growth of the companies. Perhaps keeping this in mind, Indian law makers brought this law.CSR is the medium through which corporate address the large group of stakeholders. Corporate Social Responsibility (CSR) moving far ahead from its age-old domain of philanthropy and charity has now reached to a new hallmark of Corporate responsiveness and action to social issues and demand for sustainability in order to advance further towards a new era of collective future action for factoring the sustainable business strategy for good governance and development of the society and its people. The purpose of this paper is to understand the potential benefits and reasons for growth of CSR in India. In this paper CSR practices followed by different companies also have been studied to understand the issues and challenges ahead. Further this paper tries to analyze the CSR status in India, this can give an insight to what extent companies can follow the CSR.