Mandatory CSR in India: Proponents For and Against

Abstract

The concept of CSR is underpinned by the idea that corporations can no longer act as isolated economic entities operating in detachment from broader society. CSR is understood to be the way firms integrate social, environmental and economic concerns into their values, culture, decision making, strategy and operations in a transparent and accountable manner, and thereby establish better practices within the firm, create wealth and improve society. India is the only country in the world with legislated corporate social responsibility, the amendment has come in forth the Companies Act, 2013 wherein it mandatory for every registered company to spend on CSR activities, The paper intends to study the concept of mandatory CSR and the proponents for and against the legislation and recommendation for effective implementation.