Corporate social responsibility initiatives in India: A review

Corporate Social Responsibility is the obligation of the corporate houses towards the society. It is the obligation on the part of the business to return to the society in terms of spending on various stakeholders like employees, the underprivileged sections of the society and the ecology. The concept of CSR is crucial for the survival, operation and recognition of the corporate world. It is a global accepted concept i.e. gaining political, legal and business recognition throughout the world. The existence, growth and survival of socially underprivileged of any business depends upon a number of factors that includes the well being of the workforce, the education of the society and conservation of the natural resources. A socially responsible business flourishes on account of recognition and enhanced goodwill but CSR is no more a voluntary gesture but a mandatory obligation supported by corporate laws that provides for a compulsory spending on CSR initiatives out of the profits after tax. The objective of this research paper is to highlight the CSR initiatives in India, its importance and to evaluate the CSR efforts by the business houses in India. For this purpose a number of reviews of literature have been utilized to explain the CSR initiatives in India. The study aims at a critical analysis of existing literature available in reputed journals and covers a comprehensive list of articles addressing various CSR themes, issues and problems.