Corporate Social Responsibility: An Emerging Tool for Community Development in India

Abstract

The term Corporate Social Responsibility (CSR) refers to all the activities of the corporate for uplifting the socio-economic condition of the people in the society. Although CSR is not a new concept, in the modern era the significance of Corporate Social Responsibility has increased. Prior to the implementation of The Companies Act, 2013 corporate used to spend voluntary for community development, but after the implementation of new Companies Act, the corporates started spending in welfare activity mandatorily. This move of government brought a huge opportunity for community development. More number of companies started coming forward for welfare activity. This article discusses about the role of business organization in community development. This research paper tried to identify the spending amount and different development sectors, where the business organization spends huge amount and conduct several social activities in order to provide benefits to the society under its CSR programme.