India and Its Corporate Social Responsibility Mandate

Abstract

The Corporate Social Responsibility (CSR) mandate in India under the Companies Act, 2013, has been a historical event not only in India, but also to the world at large, when one is debating about the ideas and concepts of responsible leadership, corporate citizenship and the like. However, after the initial resistance, in the last five years since its inception, the mandate has passed the test of time, as more and more corporations are spending greater than the statutory two per cent of their profit after tax on CSR. This chapter speaks about the various tenets of the CSR statute under the law as well as the effects of such intervention and involvement that has influenced India’s socio-economic dynamics; and going a step forward, in bringing out some constructive criticisms, which, when followed will lead to a more robust statute, bringing in more holistic impact.